Required

1.

Prepare

Atlantic

Inc.'s operating section of the cash flow statement for the year ended September 30,

2023,

using the indirect method.

2.Describe how the direct method would differ from the partial statement you created in requirement 1.

Question content area bottom

Atlantic Inc.'s comparative balance sheet at September 30, 2023, and additional data are shown above.

Plz plz explain the detailed formula with answers.This is so hard to understand for meThank you a lot !

2.Describe how the direct method would differ from the partial statement you created in requireme 1.

Balance sheet Atlantic Inc. Cash Flow Statement For the Year Ended September 30, 2023 Cash flows from operating activities Net income Add (subtract) items that affect net income and cash flow differently: Amortization expense Gain on sale of land Increase in accounts receivable Increase in interest receivable Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Increase in income tax payable Decrease in accrued liabilities Increase in interest payable Increase in salaries payable Net cash inflow from operating activities