19 Prepare operating cash flows under the direct method LO3 The following information is provided for the Hildebrand Company: Balances at 30 June 2015 2016 Accounts Receivable Inventory Maintenance Supplies Accounts Payable Taxes Payable Interest Payable 2500 26000 2000 4000 2000 1500 1500 32 000 1 000 3 000 3 500 2 500 2016 income statement $80000 55000 $25000 6000 2000 8000 $17000 4000 $13000 4000 $9000 Revenue Cost of goods sold Gross profit General and administrative expense Depreciation expense Total operating expenses Profits before interest and tax Interest expense Profit before income tax Income tax expense Profit after income tax Required Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the reconciliation of profits after income tax to net cash inflow from operating activities