Sales $750,000 Gain on sale of investments 5,000 Cost of goods

[answerhappygod]

Sales
$750,000
Gain on sale of
investments
5,000
Cost of goods
sold
450,000
Depreciation
expense
25,000
Other operating
expenses
198,000
Loss on sale of plant
assets
2,000
Income tax
expenses
24,000
Net
income
56,000
Increases (decreases) in selected
account balances:
Cash
$ 7,000
Accounts
receivable
80,000
Inventory
(35,000)
Prepaid
expenses
2,000
Accounts
payable
75,000
Accrued
liabilities
(10,000)
Income taxes
payable
8,000
Prepare the operating activities
section of Altair's 2006 statement of cash flows using BOTH
the direct method and the indirect method.