19 Prepare operating cash flows under the direct method LOS The following information is provided for the Hildebrand Company: 2020 Balances at 30 June 2021 Accounts Receivable $2500 $1500 Inventory 26000 32 000 Maintenance Supplies 2000 1000 Accounts Payable 4000 3000 Taxes Payable 2000 3 500 2500 Interest Payable 1500 2021 income statement Revenue $80 000 Cost of goods sold 55 000 Gross profit 25000 General and administrative expense 6000 Depreciation expense 2000 Total operating expenses 8000 Profit before interest and tax 17000 Interest expense 4000 Profit before income tax 13000 Income tax expense 4000 Profit after income tax $9000 REQUIRED Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the reconciliation of profit after income tax to net cash inflow from operating activities