11:13 x Assignment Module 13.docx ... Biddle Company Income Statement For Year Ended December 31, 2018 Sales revenue $ 142.200 Expenses Cost of goods sold 57.000 Depreciation expense 19.500 Salaries expense 33,000 Rent expense $ 10,500 S0 Insurance expense Interest expense 5, 100 Utilities expense 4100 Net income 7.500 Biddle Company Selected Balance Sheet Accounts At December 31 2018 2017 Accounts receivable 7,100 Inventory 3.480 $ 2.290 Accounts payable 5,900 $ 7,600 Salaries payable 1.180 S 350 Utilities payable Prepaid insurance 410 S SNO Prepaid rent S 330 Below is information from the Biddle Company income statement and current assets and current liabilities from the balance sheet as of December 31, 2017 and 2018. 520 Questions 1. Prepare the cash flows from operating activities section of the company's 2018 statement of cash flows using the direct method. 2. Prepare the cash flows from operating activities section of the company's 2018 statement of cash flows using the indirect method. 3. Compare the two statements of cash flows and comment on th differences. Assignment: Statement of Cash Flows by Linda Williams in Accounting for Managers by Lumen Learning is licensed under CC-BY 4.0