Piglet Corporation Income Statement For the Year Ended December 31, 2021 Piglet Corporation Partial Statement of Financial Position For the Year Ended December 31, 2021 2020 2019 Sales Revenue 3,560,000 Accounts receivable-net 440,000 482,000 Cost of goods sold 1,950,000 Prepaid Expenses 45,000 31,000 Gross margin 1,610,000 Inventory 825,000 810,000 Selling, general and admin (595,000) PPE 2,475,000 2,105,000 Depreciation Expense (320,000) Accumulated Depreciation (866,000) (823,000) Interest expense (115,300) Gain on sale of PPE 55,400 Accounts Payable 184,000 197,000 Net income before taxes 635,100 Income taxes payable 38,000 35,000 Income tax expense 95,300 Deferred Revenues 42,000 47,000 Net income 539,800 Additional information: Equipment costing $665,000 was purchased in the year. The allowance for doubtful accounts at the beginning of the year was $35,000 and the balance at the end of the year was $41,000. Accounts written off amounted to $51,400 and recoveries were $9,400. Required- a) Prepare the cash flow of operations using the direct method. b) Prepare the cash from investing section of the cash flow statement