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Portions of the financial statements for Hawkeye Company are provided below. HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2018 Sales $ 810

Portions of the financial statements for Hawkeye Company are provided below.

HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2018
Sales $ 810
Cost of goods sold 305
Gross margin 505
Operating expenses:
Salaries $ 223
Depreciation 181
Loss on sale of land 10
Total operating expenses 414
Operating income 91
Other income (expense):
Gain on sale of cash equivalents 4
Interest expense (31 )
Income before tax 64
Income tax expense 32
Net income $ 32

HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017
Year
2018 2017 Change
Cash $ 250 $ 219 $ 31
Accounts receivable 386 403 (17 )
Inventory 898 869 29
Accounts payable 229 272 (43 )
Salaries payable 189 206 (17 )
Interest payable 73 59 14
Income taxes payable 99 122 (23 )

Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the direct method. 2. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the indirect method.

Complete this question by entering your answers in the tabs below.

Required 1

Required 2

Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the direct method. (Amounts to be deducted should be indicated with a minus sign.)

REQ 1

Cash Flows from Operating Activities:
Cash received from customers $827
Cash paid to suppliers
Cash paid to employees
Cash paid for interest
Cash paid for income taxes
Net cash flows from operating activities $827

Complete this question by entering your answers in the tabs below.

Required 1

Required 2

Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

REQ 2
Cash Flows from Operating Activities:
Net income
Adjustments for noncash effects:
Depreciation expense
Changes in operating assets and liabilities:
Net cash flows from operating activities $0

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