Portions of the financial statements for Alliance Technologies are provided below. ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales $ 298,000 Expenses: Cost of goods sold $ 178,000 Operating expenses 53,000 Depreciation expense 15,300 Income tax expense 18,500 Total expenses 264,800 Net income $ 33,200 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 5,300 Increase in inventory 12,300 Decrease in prepaid rent 8,300 Increase in salaries payable 4,300 Decrease in accounts payable 7,300 Increase in income tax payable 17,200 Prepare the operating activities section of the statement of cash flows for Alliance Technologies using theindirect method.(List cash outflows and any decrease in cash as negative amounts.)

Portions of the financial statements for Alliance Technologies are provided below. ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales $ 298,000 Expenses: Cost of...

Portions of the financial statements for Alliance Technologies are provided below.

ALLIANCE TECHNOLOGIES
Income Statement
For the year ended December 31, 2021
Net sales			$	298,000
Expenses:
Cost of goods sold	$	178,000
Operating expenses		53,000
Depreciation expense		15,300
Income tax expense		18,500
Total expenses				264,800
Net income			$	33,200

ALLIANCE TECHNOLOGIES
Selected Balance Sheet Data
December 31, 2021, compared to December 31, 2020
Decrease in accounts receivable	$	5,300
Increase in inventory		12,300
Decrease in prepaid rent		8,300
Increase in salaries payable		4,300
Decrease in accounts payable		7,300
Increase in income tax payable		17,200

Prepare the operating activities section of the statement of cash flows for Alliance Technologies using theindirect method.(List cash outflows and any decrease in cash as negative amounts.)

Jun 10, 2022

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Portions of the financial statements for Alliance Technologies are provided below. ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales $ 298,000 Expenses: Cost of...

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