Solomon Brands, Inc., presents its statement of cash flows using the Indirect method. The following accounts and corresponding balances were drawn from Solomon's Year 2 and Year 1 year-end balance sheets: Account Title Accounts receivable Merchandise inventory Prepaid insurance Accounts payable Salaries payable Unearned service revenue Year 2 Year 1 $28,1ee $28,569 56,400 51,480 15,600 25,880 25,700 16,380 4,750 4.289 85e 2,850 The Year 2 income statement is shown below: Income Statement Sales Cost of goods sold Gross margin Service revenue Insurance expense Salaries expense Depreciation expense Operating income Gain on sale of equipment Net Income $ 629,6 (369.ee) 24e, cee 5,500 (40,880) (143,8) (5,980) 56,660 3,1ee $ 59,700 Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the Indirect method. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the operating activities section of the statement of cash flows using the direct method. (Cash outflows should be indicated with minus sign.) SOLOMON BRANDS, INC. Statement of Cash Flows (Operating Activities) For the Year Ended December 31, Year 2 Cash flows from operating activities: Cash collections from customers for sales $ 617,400 Cash collections from customers for services Cash payments for: Inventory Insurance Salaries Net cash flow from operating activities S 817.400 (Required A Required B >