1) Using the information provided prepare a cash flow statement (direct method) and the reconciliation of net income to cash flow from operations for the year ended December 31 20X4. (40 Points) 1,250 950 300 Leif Corporation Income Statement For the Year Ended December 31 20X4 ($'s in millions) Sales Cost of goods sold Gross profit Operating expenses: Selling and general administrative expense Depreciation expense Operating income Interest expense Interest income Profit before tax Income tax expense Net profit 92 55 147 153 10 (2) 8 145 53 92 1) Using the information provided prepare a cash flow statement (direct method) and the reconciliation of net income to cash flow from operations for the year ended December 31 20X4. (40 Points) 1,250 950 300 Leif Corporation Income Statement For the Year Ended December 31 20X4 ($'s in millions) Sales Cost of goods sold Gross profit Operating expenses: Selling and general administrative expense Depreciation expense Operating income Interest expense Interest income Profit before tax Income tax expense Net profit 92 55 147 153 10 (2) 8 145 53 92