Exercise 12-7A The direct versus the indirect method of determining cash flows from operating activities LO 12-1, 12-2 The following accounts and corresponding balances were drawn from Jogger Companys 2017 and 2016 year-end balance sheets: Account Title 2017 2016 Accounts receivable $ 74,700 $ 80,600 Prepaid rent 780 1,120 Utilities payable 1,800 1,090 Other operating expenses payable 32,200 35,700 The 2017 income statement is shown below: Income Statement Sales $ 362,000 Rent expense (23,600 ) Utilities expense (36,100 ) Other operating expenses (166,900 ) Net Income $ 135,400 Required a. Prepare the operating activities section of the statement of cash flows using the direct method.(Amounts to be deducted should be indicated with a minus sign.) b. Prepare the operating activities section of the statement of cash flows using the indirect method.(Amounts to be deducted should be indicated with a minus sign.)