Question

Portions of the financial statements for Alliance Technologies are provided below. Alliance Technologies Income Statement For the year ended December 31, 2018Net sales $405,000Expenses:Cost of goods sold $235,000 Operating expenses 70,000Depreciation expense 17,000 Income tax expense 27,000 Total expenses 349,000Net income $56,000 Alliance Technologies Selected Balance Sheet Data December 31, 2018, compared to December 31, 2017Decrease in accounts receivable $7,000Increase in inventory 14,000Decrease in prepaid rent 10,000Increase in salaries payable 6,000Decrease in accounts payable 9,000Increase in income tax payable 24,000Required:Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the direct method.

Answer 1

Answer:

Net cash flow from Operating activities  $       97,000.00

Explanation:

The problem can not be solved on the answer box here, that is why i made use of the microsoft word table in other to understand the solution properly

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