Flounder Corporation had the following 2017 income statement. Revenues $106,000 Expenses 66,000 $40,000 In 2017, Flounder had the following activity in selected accounts. Accounts Receivable 1/1/17 20,000 Revenues 106,000 12/31/17 27,000 Write-offs 1,000 Collections 98,000 Allowance for Doubtful Accounts Write-offs 1,000 1/1/17 1,000 Bad debt expense 1,700 12/31/17 1,700 (a) Prepare Flounders cash flows from operating activities section of the statement of cash flows using the direct method. Flounder Corporation Statement of Cash Flows-Direct Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Cash Payments for Expenses Net Income Decrease in Net Accounts Receivable Cash Received from Customers Increase in Net Accounts Receivable $ Cash Received from Customers Decrease in Net Accounts Receivable Cash Payments for Expenses Increase in Net Accounts Receivable Net Income Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash $ (b) Prepare Flounders cash flows from operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Flounder Corporation Statement of Cash Flows-Indirect Method (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash Net Income Cash Received from Customers Cash Payments for Expenses Increase in Net Accounts Receivable Decrease in Net Accounts Receivable $ Net Income Cash Received from Customers Cash Payments for Expenses Increase in Net Accounts Receivable Decrease in Net Accounts Receivable Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash $