P 21-8 Cash flows from operating activities (direct method and indirect method)-deferred income tax liability and amortization of bond discount ( LO21-3, LO21-4 Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ( $ in thousands) PARNELL COMPANY Selected Accounts from Comparative Balance Sheets Page1282 December 31, 2021 and 2020 (\$ in thousands) Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method. 2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method. P 21-8 Cash flows from operating activities (direct method and indirect method)-deferred income tax liability and amortization of bond discount ( LO21-3, LO21-4 Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ( $ in thousands) PARNELL COMPANY Selected Accounts from Comparative Balance Sheets Page1282 December 31, 2021 and 2020 (\$ in thousands) Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method. 2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method