Snail Company provided the following balance sheet and income statement for the current year. Prepare the operating activities section of the cash flow statement using the direct method. Accrued expenses relate to Selling, General and Administrative Expenses.

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Snall Company Balance Sheet At December 31 Merchandise Inventony Total Current Assets Investments in Bonds Property. Ptant, and Equipment-net Total Noncurrent Assets Current Uabilities Total Current Liabilities Noncurrent Uabilities Total Noncurrent Liablities Common Stodk, $1 Par Value Additional Paid-in Capital Total Stockholders Equity Total Liabilities and Stockholders' Equity Snal Company Income Statement For the year onded December 3 $56,000 33,600 522,400 S11,800 6,000 $ 17600 S 4,800 $ 12,100) s 2,700 1,334 $ 1,366 Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Depreciation Expense Total Operating Expenses Income Before Interest and Taxes Interost Expense Income Before Tax income Tax Expense Net Income