The income statement for Rhino Company for the current year ended June 30 and balances of selected accounts at the beginning and the end of the year are as follows: Sales Cost of goods sold $445,500 (154,000) $291,500 Gross profit Operating expenses: Depreciation expense $38,500 Other operating expenses 115,280 Total operating expenses (153,780) Income before income tax $137,720 Income tax expense (39,600) Net income $98,120 Accounts receivable (net) End of Year Beginning of Year $36,300 $31,240 92,400 80,300 Inventories Prepaid expenses 14,520 15,840 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Income tax payable 67,540 19,140 62,700 20,900 4,400 4,400 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the direct method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Rhino Company Cash Flows from Operating Activities Section For the year ended on June 30 Cash flows from operating activities: Cash received from customers Cash payments for merchandise Cash payments for operating expenses Cash payments for income taxes Net cash flow from operating activities