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. $484,500 237,400 $247,100 Gross profit from sales Operating expenses: $65,976 Salaries expense Depreciation expense 11,510 Rent expense 9,750 Amortization expense, patents. Utilities expense 1,430 4,900 93,566 1,910 Total operating expenses Gain on sale of equipment Profit from operations Income taxes $155,444 3,000 $152,444 Profit Changes in current asset and current liability accounts during the year were as follows: Accounts receivable Merchandise inventory $10,600 increase. 7,000 increase 3,400 decrease Accounts payable Salaries payable. 1,000 decrease. 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