The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods, in the format illustrated in Illustration 21–11. Some elements necessary to complete the schedule are missing.

Required:
Complete the schedule by determining each of the following missing elements:
1. Cash received from customers.
2. Cost of goods sold.
3. ? in salaries payable (Increase? Or decrease?).
4. Cash paid for depreciation.
5. Interest expense.
6. Cash paid for insurance.
7. Increase in income tax payable.
8. Net income.

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Income Statement Sales Gain on sale of equipment Cost of goods sold Salaries expense Depreciation expense Interest expense Insurance expense Loss on sale of land Income tax expense Net Income $300 24 $ (?) (42) (9) (?) (21) (6) (27) ? Cash Flows from Operating Activities Indirect Method Net income Adjustments: Decrease in accounts receivable Gain on sale of equipment Increase in inventory Increase in accounts payable ? in salaries payable Depreciation expense Decrease in bond discount Decrease in prepaid insurance Loss on sale of land Increase in income tax payable Net cash flows from operating activities $ ? 6 (24) (12) 18 6 9 3 9 6 ? $ 54 Direct Method Cash received from customers (Not reported-no cash effect) Cash paid to suppliers Cash paid to employees Cash paid for depreciation Cash paid for interest Cash paid for insurance (Not reported-no cash effect) Cash paid for income taxes Net cash flows from operating activities $ ? (174) (36) ? (9) (?) (21) $ 54