Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations.

Cash Flows from Operating Activities (Indirect method)
Net income	$	35,600
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation expense		8,600
Increase in accounts receivable		(12,600	)
Increase in accounts payable		7,600
Increase in income tax payable		5,600
Net cash flows from operating activities					$	44,800
Cash Flows from Operating Activities (Direct method)
Cash received from customers	$	81,000
Cash paid for operating expenses		(25,600	)
Cash paid for income taxes		(10,600	)
Net cash flows from operating activities					$	44,800

Required:

Complete the following income statement for Electronic Transformations. Assume all accounts payable are to suppliers.