Sived December 31, 2021, appears below. Service revenue Operating expenses Incore before income taxes Income tax expense Net income $1,220,000 see, eee 320, eee 8e, en $ 240, ped The following balance sheet Information also is available Accounts receivable Accrued liabilities (for operating expenses) Income taxes payable 12/31/2021 12/31/2020 $ 455,000 $ 98,eee 160,00 120,00 112, eee se, eee 30,00 55.000 In addition, the following transactions took place during the year 1. Common stock was issued for $140.000 in cash 2. Long-term Investments were sold for $70,000 in cash The original cost of the investments also was $70,000 3. $100.000 in cash dividends was paid to shareholders 4. The company has no outstanding debt other than those payables listed above. 5. Operating expenses include $50.000 in depreciation expense. Required: 1. Prepare a statement of cash flows for 2021 for the Diversified Portfolio Corporation. Use the direct method for reporting operating activities 2. Prepare the cash flows from operating activities section of Diversified's 2021 statement of cash nows using the Indirect method