The income statement of Booker T Industries Inc. for the current year ended June 30 is as follows: Sales Cost of goods sold Gross profit $511,000 (290,500) $220,500 Operating expenses: Depreciation expense $39,200 Other operating expenses 105,000 Total operating expenses (144,200) Income before income tax $76,300 Income tax expense Net income Changes in the balances of selected accounts from the beginning to the end of the current year are as follows: Increase/(Decrease) (21,700) $54,600 Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Income tax payable $(11,760) 3,920 (3,780) (7,980) 1,260 (2,660) ccrued expenses payable (operating expenses) come tax payable 1,260 (2,660) Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the direct me Booker T Industries Inc. Cash Flows from Operating Activities Section For the year ended on June 30 Line Item Description Cash flows from (used for) operating activities: Cash received from customers Cash payments for merchandise Cash payments for operating expenses Cash payments for income taxes Net cash flows from operating activities Feedback Amount Amount Check My Work Consider what account(s) would have an impact on determining how much cash is received during the period. Which acco To determine the cash payments for merchandise, adjusted cost of goods sold for any increases or decreases in inventorie