la Ac- ekly Selected information from Oriole Ltd's statement of financial position and income statement is as follows: ORIOLE LTD. Statement of Financial Position (partial) December 31 Support 2018 2017 Current assets Accounts receivable $7,000 $12,600 5,800 4,900 Inventory Prepaid expenses 3,600 2,000 Current liabilities Accounts payable 2,300 750 Income tax payable 3,650 1,500 2,800 5,500 Accrued liabilities 1,300 9,600 Bank loan payable-current portion ORIOLE LTD. Income Statement Year Ended December 31, 2018 Net sales $180,000 Cost of goods sold 110,000 70 m GNOCELTU. Income Statement Year Ended December 31, 2018 Net sales $180,000 Cost of goods sold 110,000 Gross profit 70,000 Operating expenses 50,000 Income from operations 20,000 Interest expense 1,400 Income before income tax 18,600 Income tax expense 3,100 Net Income $15,500 Additional information: 1. Prepaid expenses and accrued liabilities relate to operating expenses. 2. Accounts payable relate to purchases of merchandise. 3 Operating expenses included depreciation expense of $11.400 and a loss of $5,000 on the disposal of equipment. Prepare the operating activities section of the statement of cash flows, using the direct method. (Show amounts that decrease cash flow with either a - sign eg.-15,000 or in parenthesis es. (15,000).) PUFFY LTD. Statement of Cash Flows-Direct Method PUFFY LTD. Statement of Cash Flows-Direct Method Cash payments