WILDHORSE LTD. Statement of Financial Position (partial) December 31 20212020 Current assets Accounts receivable Inventory Prepaid expenses $7,6006,4003,200$12,6005,0002,600 Current liabilities Accounts payable 4,4001,5002,5005,2002,1007001,2509,400 WILDHORSE LTD. Statement of Income Year Ended December 31, 2021 Sales $220,000 Cost of goods sold 106000114,000 Additional information: 1. The bank loan was received in the past to finance the purchase of equipment. 2. Operating expenses included depreciation expense of $11,300 and a loss of $5,000 on the disposal of equipment. Prepare the operating activities section of the statement of cash flows, using the direct method. PUFFY LTD. Statement of Cash Flows Year Ended December 31, 2021 Cash flows from operating activities Cash receipts from customers $225000 Cash payments For income tax $\begin{tabular}{|r|r} \hline & i \\ \hline \end{tabular} To suppliers \begin{tabular}{|l|l|} \hline 113100 \\ \hline \end{tabular} For interest For operating expenses 39700 Net cash provided by operating activities ^