Cash Flows from $($Used for$)$ Operating Activities$$Direct Method The income statement of Booker T Industries Inc. for the current year ended June $30$ is as follows: Sales $$585,920$ Cost of merchandise sold $332,690$ Gross profit $$253,230$ Operating expenses: Depreciation expense $$44,960$ Other operating expenses $118,860$ Total operating expenses $163,820$ Income before income tax $$89,410$ Income tax expense $24,810$ Net income $$64,600$ Changes in the balances of selected accounts from the beginning to the end of the current year are as follows: Increase Decrease Accounts receivable $($net$)$ $$(12,980)$ Inventories $4,520$ Prepaid expenses $(4,330)$ Accounts payable $($merchandise creditors$)(9,240)$ Accrued expenses payable $($operating expenses$)1,290$ Income tax payable $(3,100)$ Question Content Area a$.$ Prepare the Cash Flows from $($used for$)$ Operating Activities section of the statement of cash flows, using the direct method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.