thank you! The following statement of cash flows template is being utilized by Alliance Technologies. All amounts are in thousands (000s).ALLIANCE TECHNOLOGIESStatement of Cash FlowsFor the year ended December 31, 2021Cash Flows from Operating ActivitiesNet incomeAdjustments to reconcile net income to net cash flows from operatingactivities:Net cash flows from operating activitiesCash Flows from Investing ActivitiesNet cash flows from investing activitiesCash Flows from Financing ActivitiesNet cash flows from financing activitiesNet increase (decrease) in cashCash at the beginning of the period$1,9657,985$ 9,950Cash at the end of the periodThe following items are to be included in the statement of cash flows.$ 8,50012,7005,3903,9401,68516,12039,4901,4008306,22010,9002,540Cash received from the sale of landIssuance of common stockDepreciation expenseIncrease in accounts receivableDecrease in accounts payableIssuance of long-term notes payablePurchase of equipmentDecrease in inventoryDecrease in prepaid rentPayment of dividendsNet incomePurchase of treasury stockRequlred:Using the indirect method, prepare the statement of cash flows for Alliance Technologies. (LIst cash outflows and any decrease Incash as negative amounts. Enter your answers In thousands (1.e., 10,000,000 should be entered as 10,000).) cash as negative amounts. Enter your answers In thousands (1.e., 10,000,000 should be entered as 10,000).)ALLIANCE TECHNOLOGIESStatement of Cash FlowsFor the Year Ended December 31, 2021Cash Flows from Operating ActivitiesAdjustments to reconcile net income to net cash flovs from operating activitiesNet cash flows from operating activitiesCash Flows from Investing ActivitiesNet cash flows from investing activitiesCash Flows from Financing ActivitiesNet cash flows from financing activitiesCash at the beginning of the periodCash at the end of the period

The question is based on the concept of Cash flow statement.ALLIANCE TECHNOLOGIES STATEMENT OF CASH FLOWS (USING INDIRECT METHOD) FOR THE YEAR ENDED DECEMBER 31,2021 Particulars Amount $ Cash flow from operating activities Net Income 10900 Adjustments to reconcile net income to net cash provided by operating activities Adjustment for non cash effects Depreciation expense 5390 Change in operating assets & liabilities Increase in accounts receivable -3940 Decrease in inventory 1400 Decrease in prepaid rent 830 Decrease in accounts payable -1685 Net cash flow from operating activities (a) 12895 Cash Flow from Investing activities Cash paid for purchase of equipment -39490 Cash received from sale of land 8500 Net cash Flow used for Investing activities (b) -30990 Cash Flow from Financing activities Cash paid for dividends -6220 Issuance of common stock 12700 Issuance of long-term notes payable 16120 Purchase of treasury stock -2540 Net cash Flow from Financing activities (c) 20060 Net Change in cash c=a+b+c 1965 Beginning cash balance 7985 Closing cash balance 9950

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TOllowing statement lows template is being ized by Alliance lechnologie All amounts are in thousands (000s). ALLIANCE TECHNOLOGIES Statement of Cash Flows For the year ended December 31, 2021 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period $1,965 7,985 $9,950 The following items are to be included in the statement of cash flows. $ 8,5e0 12,780 5,390 Cash received from the sale of land Issuance of common stock Depreciation expense Increase in accounts rereivahle 3.948