Statement of Cash Flows: See attached.

6. (TCO F) Cash flows from operating activities (indirect and direct methods). Presented below is the income statement of Smiling Tiger, Inc. Sales $1,020,000 Cost of goods sold 640,000 Gross profit $380,000 Operating expenses 230,000 Income before income taxes 150,000 Income taxes 60,000 Net income $90,000 In addition, the following information related to net changes in working capital is presented. Debit Credit Cash $50,000 Accounts receivable 34,500 Inventories $25,000 Salaries payable (operating expenses) 60,000 Accounts payable 450,000 Income taxes payable 12,000 Depreciation expense for the year was $54,000 Deferred tax liability account increased $6,500 Prepare a schedule computing the net cash flow from operating activities that would be shown on a statement of cash flows: (a) using the indirect method. (b) using the direct method