Instructions :

Prepare the operating activities section of the statement of cash flows using the indirect method dan direct method.

E23.5 (LO2, 3) (Preparation of Operating Activities Section-Direct Method) Norman NV's income statement for the year ended December 31, 2019, contained the following condensed information. Norman's statement of financial position contained the following comparative data at December 31. (Accounts payable pertains to operating expenses.)