The Ststement of Cash Pows Revisned 1263 CLEAR TRANSMISSIONS COMPANY For the Year Ended December 31, 2018 ES ri t Income Statement thousands Sales Cost of goods sold $1.320 Gross margin Salaries expense Depreciation expense Patent amortization expense Interest expense Loss on sale of cash equivalents Income before taxes Income tax expense 820 $220 180 456 364 182 $ 182 Net Income CLEAR TRANSMISSIONS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in thousands) Change s 2 2018 2017 $102 220 440 140 $100 Cash Accounts receivable Inventory Accounts payable Salaries payable Interest payable Income taxes payable 232 450 134 110) 20 10 Required: Prepare the cash flows from operating activities section of the tatement of cash flows for Clear Transmissions Company using the direct method. Refer to the data provided in E 21-25 for Clear Transmissions Company Required: Prepare the cash flows from operating activities section of the statement of cash flows for Clear Transmissions Company using the indirect method