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 $31,2023$

Sales $ $487,500$ 

Cost of goods sold $239,400$ 

Gross profit from sales $ $248,100$ 

Operating expenses:

Salaries expense $ $68,976$ 

Depreciation expense $11,610$ 

Rent expense $9,850$ 

Amortization expense, patents $1,530$ 

Utilities expense $6,900$ 

Total operating expenses $98,866$ 

Gain on sale of equipment $2,010$ 

Profit from operations $ $151,244$ 

Income taxes $5,000$ 

Profit $ $146,244$ 

Changes in current asset and current liability accounts during the year were as follows:

Accounts receivable $ $12,600$ increase

Merchandise inventory $9,000$ increase

Accounts payable $5,400$ decrease

Salaries payable $3,000$ decrease

Analysis Component:

Use the information above to present the cash flows from operating activities using the indirect method.