Instructions Tidwell Company has provided the following partial comparative balance sheets and the income statement for 20x2. Tidwell Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20x1 20x2 Current assets: 3 Accounts receivable $280,500.00 $355,000.00 123,000.00 Inventories 155,000.00 Current liabilities: Instructions Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 20X2 Current assets: 3 Accounts receivable $353,000.00 $280,500.00 Inventories 123,000.00 155,000.00 Current liabilities: 6 Accounts payable 302,000.00 237,500.00 Instructions Income Statement For the Year Ended December 31, 20X2 Revenues $1,195,000.00 2 Gain on sale of equipment 48,000.00 3 Cost of goods sold Depreciation expense (648,000.00) (120,000.00) (28,500.00) $446,500.00 5 Interest expense Net income Required: Compute operating cash flows using the direct method Instructions Cash Flows from Operating Activities - Direct Method Compute operating cash flows using the direct method. (Note: Begin by entering the applicable income statement amounts. In the Adjustments column, if an account has more than one adjustment, enter the total effect of all adjustments in the applicable cell. Use a minus sign to indicate a negative adjustment or a negative cash outflow.) Tidwell Company Cash Flows from Operating Activities, Direct Method For the Year Ended December 31, 20X2 Income ustments Cash Flows Statement Revenues 3 Gain on sale of equipment Instructions Cash Flows from Operating Activities - Direct Method Cash Flows from Operating Activities, Direct Method For the Year Ended December 31, 20X2 Income Adjustments Cash Flows Statement Revenues Gain on sale of equipment Cost of goods sold Depreciation expense Interest expense Net income Net cash from operating activities