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.) Opal Resources Corp. Income Statement For Year Ended December 31, 2020 Sales Cost of goods sold Gross profit from sales Operating expenses: Salaries expense Depreciation expense Rent expense Amortization expense, patents Utilities expense Total operating expenses Gain on sale of equipment Profit from operations Income taxes Profit $485,700 236,600 $249,100 $ 67,176 11,470 9,710 1,390 4,100 93,846 1,870 $157,124 2,200 $154,924 Changes in current asset and current liability accounts during the year were as follows: Accounts receivable Merchandise inventory Accounts payable Salaries payable $ 9,800 increase 6,200 increase 2,600 decrease 600 decrease LALA FAK payavit UCLI cast 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. 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: Decrease in accounts payable $ 0