The income statement of Smith Company is shown below. Sales .... SMITH COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 ..............$755,000 Cost of goods sold. ... ..............543,000 Gross profit...... .............212,000 Operating expenses Selling expenses ....... $52,000 Administrative expenses ............... ........89,000..........141,000 Income before tax ................ ......................71,000 Income Tax Expense .............. .....20,000 Net income ......... $ 51,000 Additional information: 1. Accounts receivable decreased by $63,000 during the year. 2. Inventory increased by $38,000 during the year. 3. Prepaid expenses increased by $12,000 during the year. 4. Accounts payable increased by $25,000 during the year. All of the accounts payable are related to inventory purchases. 5. Accrued expenses payable increased by $6,000 during the year. 6. Income Taxes Payable increased by $2,000 during the year. 7. Administrative expenses include $20,000 of depreciation expense. (a.) Prepare the operating activities section of Smith Company's Statement of Cash Flows for the year ended December 31, 2017, using the indirect method. You are only required to prepare the operating activities section of of the statement. (7 points) (b.)Prepare the operating activities section of Smith Company's Statement of Cash Flows for the year ended December 31, 2017, using the direct method. You are only required to prepare the operating activities section of the statement