You did not receive ful Problem 11-3A Calculate operating activities - indirect method (L011-2) Portions of the financial statements for Alliance Technologies are provided below. ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2018 Net sales $ 405,000 Expenses Cost of goods sold $235.000 Operating expenses 70,000 Depreciation expense 17,000 Income tax expense 27.000 Total expenses 349,000 Net income 56.000 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2018, compared to December 31, 2017 Decrease in accounts receivable $7,000 Increase in inventory 14,000 Docrease in prepaid rent 10.000 Increase in salaries payable 6,000 Decrease in accounts payable 9,000 Increase in income tax payable 24,000 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method. (List cash outflows and any decrease in cash Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the Indirect method. (List cash outflows an ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash Flows from Operating Activities: > 3 Adjustments to reconcile net income to net cash flows from operating activities Decrease in accounts receivable Decrease in accounts payable Depreciation expenso OOOO 412.000 (258,000) (54,000) (3.000) O Net cash flows from operating activities $ 97,000