Portions of the financial statements for Pamell Company are provided below. PARNELL COMPANY Incone Statement For the Year Ended December 31, 2018 ($ in eees) Revenues and gains: Sales $ 890 11 $901 $ 345 129 Gain on sale of buildings Expenses and loss: Cost of goods sold Salaries Insurance Depreciation Interest expense Loss on sale of machinery Income before tax Income tax expense Net income 132 $85 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in Bees) 2017 91 Change $ 61 $ S 2018 152 342 312 443 106 135 (131) (49 Cash Accounts receivable Inventory Prepaid insurance Accounts payable Salaries payable Deferred Income tax liability Bond discount 228 12e (37) 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 Complete this question by entering your answers in the tabs below. Required: Required 2