Save Firefly Company provided the following balance sheet and income statement for the current year. (Click the icon to view the balance sheet.) Requirement (Click the icon to view the income statement.) Prepare the operating activities section of the cash flow statement using the direct method. Assume accrued expenses relate to selling, general, and administrative expenses. (Use a Income Statement Balance Sheet - X Firefly Company Firefly Company Income Statement Balance Sheet For the Year Ended December 31 At December 31 Sales $ 85,000 Assets Ending Beginning Cost of Goods Sold 37,000 Current Assets $ Gross Profit 48,000 Cash $ 24.000 5,400 Selling, General, and Administrative Expenses $ 14,000 Accounts Receivable net 5,100 3,000 3.000 2,100 Depreciation Expense 5,600 Merchandise Inventory $ 33,500 $ 11,300 10,600 Total Current Assets Total Operating Expenses 306 PM