The income statement of Belini Inc. reported the following condensed information.

Belini€™s balance sheet contained these comparative data at December 31.

Belini has no depreciable assets. Accounts payable pertain to operating expenses.
Instructions
Prepare the operating activities section of the statement of cash flows using the indirectmethod.

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BELINI INC. Income Statement For the Year Ended December 31, 2010 Revenucs Opcrating expenses Income from operations Income tax expense Net income $545,000 400,000 145,000 47,000 $ 98,000 Accounts rcccivable Accounts payable Income taxes payable 2010 60,000 35,000 10,000 2009 $75,000 51,000 6,000