LO3 19 Prepare operating cash flows under the direct method The following information is provided for the Hildebrand Company: Balances at 30 June 2021 2020 $ 2500 $ 1500 26 000 32000 2000 1000 4000 3000 2000 3500 1500 2500 $80000 55000 Accounts Receivable Inventory Maintenance Supplies Accounts Payable Taxes Payable Interest Payable 2021 income statement Revenue Cost of goods sold Gross profit General and administrative expense Depreciation expense Total operating expenses Profit before interest and tax Interest expense Profit before income tax Income tax expense Profit after income tax 25000 6000 2000 8000 17000 4000 13000 4000 $ 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