Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the direct method: (List any deduction in cash and cash outflows as negative amounts.) $485,400 238,000 $247,400 Opal Resources Corp. Income Statement For Year Ended December 31, 2020 Sales Cost of goods sold Gross profit from sales Operating expenses: Salaries expense $ 66,876 Depreciation expense 11,540 Rent expense 9,780 Amortization expense, patents 1,460 Utilities expense 5,500 Total operating expenses Gain on sale of equipment Profit from operations Income taxes Profit 95, 156 1,940 $154,184 3,600 $150,584 Changes in current asset and current liability accounts during the year were as follows: Accounts receivable Merchandise inventory Accounts payable Salaries payable $ 11, 200 increase 7,600 increase 4,000 decrease 1,600 dec ease OPAL RESOURCES CORP. Statement of Cash Flows For Year Ended December 31, 2020 Cash flows from operating activities: $ 0 Analysis Component: Use the information above to present the cash flows from operating activities using the indirect method. OPAL RESOURCES CORP. Statement of Cash Flows For Year Ended December 31, 2020 Cash flows from operating activities: Adjustments to reconcile profit to net cash provided by operating activities: $ 0