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 $486,000 236,400 $249,600 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 $ 67,476 11,460 9,700 1,380 3,900 93,916 1,860 $157,544 2,000 $155,544 Income taxes Profit Changes in current asset and current liability accounts during the year were as follows: Accounts receivable Merchandise inventory Accounts payable Salaries payable $ 9,600 inerease 6,000 inerease 2,400 decrease 400 decrease OPAL RESOURCES CORP. Statement of Cash Flows For Year Ended December 31, 2020 Cash flows from operating activities: Payments for income taxes (2,000) Payments for inventory Payments for rent (9,700) (67,876) (3,900) Payments for salaries Payments for utilities Receipts from customers Net cash inflow from operating activities (83,476) %24 %24