Calculator Print item Cash Flows from Operating Activities-Direct Method The income statement of Booker T Industries Inc. for the current year ended June 30 is as follows: Sales Cost of goods sold Gross profit Operating expenses: $369,420 209,760 $159,660 Depreciation expense $28,3s0 Other operating expenses 74,940 103,290 $56,370 15,640 $40,730 Total operating expenses Income before income tax Income tax expense Net income Changes in the balances of selected accounts from the beginning to the end of the current year are as follows: Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Income tax payable a. Prepare the Cash Flows from Operating Activities section sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments s(8,190) 2,850 (2,730) (5,820) 810 (1,960) of the statement of cash flows, using the direct method. Use the minus Booker T Industries Inc Check jhy Work 5 more Check May Work uses remaining 5 more Check My Work uses remairing Previous for Grading MacBook Air FS F7 F1o F11 F12