4E12-23A. (Learning Objective 4: Compute cash flows from operating activities-direct method) The accounting records of Pelham Pharmaceuticals, Inc, reveal the following et income..$20,000 .8,000 Payment of salaries and wages. $36,000 Payment of income tax 26,000 Collection of dividend Depreciation expens. Decrease in current revenue ,00 liabilities.. 11,000 Payment of intere st.... 20 20,000 Cash sae han cas.21,000 Gain on Decrease in current assets 45,000 land...6,000 7,000 Acquisition of land with cash.. 32,000 sale of Payment of dividends Collection of accounts Payment of accounts 90,000 ayab l e .. 54,000 Requirement 1. Prepare cash flows from operating activities using the direct method. Also evaluate Pelham's operating cash flow. Give the reason for your evaluation