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REDONE Inc., a service company, has the following selected information at December 31, 2021. Data for Balanc 2071 2020 Difference Shar Increase or Dicas Cash

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REDONE Inc., a service company, has the following selected information at December 31, 2021. Data for Balanc 2071 2020 Difference Shar Increase or Dicas Cash $63,000 $61,000 Accounts Receivable $78,000 $86,000 Prepaid Expenses $12,000 $6,000 Accounts Payable $92,000 $87,000 Income Taxes Payable $17,000 $13,000 Data for Income Statement for 2021 Sales Revenues Operating Expenses Income Before Income Taxes Income Taxes Expenses Net Income $173,000 160,000 $13,000 6.000 $7000 Operating expenses include $4,000 of depreciation expenses Instructions: 1. Using the direct method, prepare the operating activities section of the statement of cash flows for 2021, you must present the formulas that you use to complete the direct section of the operational part. 2. Using the indirect method, prepare the operating activities section of the statement of cash flows for 2021

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