ALLIANCE TECHNOLOGIES Income Statement For the Year Ended December 31, 2024 Net sales $405,000 Expenses: Cost of goods sold $235,000 Operating expenses 70,000 Depreciation expense 17,000 Income tax expense 27,000 Total expenses 349,000 Net income $ 56,000 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2024, compared to December 31, 2023 Decrease in accounts receivable $ 7,000 Increase in inventory 14,000 Decrease in prepaid rent 10,000 Increase in salaries payable 6,000 Decrease in accounts payable 9,000 Increase in income tax payable 24,000 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the direct method