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 Accounts Receivable $ 2500 $ 1500 Inventory 26000 32 000 Maintenance Supplies 2000 1000 Accounts Payable 4000 3000 Taxes Payable 2000 3500 Interest Payable 1500 2500 2021 income statement Revenue $80 000 Cost of goods sold 55 000 Gross profit 25 000 General and administrative expense 6 000 Depreciation expense 2000 Total operating expenses 8000 Profit before interest and tax 17 000 Interest expense 4000 Profit before income tax 13000 Income tax expense 4000 Profit after income tax $ 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