(L02,3) Colbert Corporation had the following 2017 income statement.

Revenues $100,000 Expenses 60,000

$ 40,000 In 2017, Colbert had the following activity in selected accounts.

Allowance for Accounts Receivable Doubtful Accounts 1/1/17 20,000 1,200 1/1/17 Revenues 100,000 1,000 Write-offs Write-offs 1,000 1,840 Bad debt expense 90,000 Collections 12/31/17 29,000 2,040 12/31/17 Prepare Colbert’s cash flows from operating activities section of the statement of cash flows using

(a) the direct method and

(b) the indirect method.