The profit or loss section of the statement of comprehensive income of Reek Company for the year ended December 31, 2020 is reproduced below:

Sales P 6,100,000

Cost of goods sold 3,700,000

Gross profit P2,400,000

Gain on sale of equipment 100,000

Salaries expense -820,000

Insurance expense -380,000

Depreciation expense 220,000

Profit before interest and income tax P1,080,000

Interest expense 120,000

Profit before income tax P960,000

Income tax expense 288,000

Profit P672,000

The following information is also available:

Decrease in accounts receivable P120,000

Increase in inventory 280,000

Decrease in accounts payable 160,000

Increase in salaries payable 100,000

Increase in prepaid insurance 180,000

Decrease in interest payable 30,000

Increase in income tax payable 18,000

Required: Prepare Reek Companys 2020 Statement of Cash Flows using the indirect method and Indirect Method.