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The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing.

Cash Flows from Operating Activities
Income Statement				Indirect Method				Direct Method
				Net income	$	?
				Adjustments:
Sales	$	?		Decrease in accounts receivable		16		Cash received from customers	$	666
Cost of goods sold		?		Increase in inventory		(32	)
				Decrease in accounts payable		(45	)	Cash paid to suppliers		(467	)
Salaries expense		?		Increase in salaries payable		17		Cash paid to employees		(42	)
Depreciation expense		?		Depreciation expense		23		(Not reportedno cash effect)
Insurance expense		?		Decrease in prepaid insurance		24		Cash paid for insurance		(20	)
Loss on sale of land		?		Loss on sale of land		20		(Not reportedno cash effect)
Income tax expense		?		Increase in income tax payable		20		Cash paid for income taxes		(40	)
Net income	$	?		Net cash flows from operating activities	$	97		Net cash flows from operating activities	$	97

Required: Deduce the missing amounts and prepare the income statement.

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