The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing. Cash Flows from Operating Activities Indirect Method Income Statement Direct Method Net income Adjustments Sales $? Decrease in accounts receivable Increase in inventory Decrease in accounts paya Increase in salaries payable Depreciation expense ?Decrease in prepaid insurance Loss on sale of land 25 Cash received from customers $ 765 Cost of goods sold (58) (63) Cash paid to suppliers 26 Cash paid to employees 32 (Not reported-no cash effect) 33 Cash paid for insurance 29 (Not reported-no cash effect) 29 Cash paid for income taxes (557) (51) ble Salaries expense Depreciation expense Insurance expense Loss on sale of land (29) Income tax expense Increase in income tax payable 49 $ 79 Net cash flows from operating activities $ 79 Net income ?Net cash flows from operating activities Requlrec: Deduce the missing amounts and prepare the income statement