Can someone please answer this for me please. Thanks

• Explain the difference between the indirect and direct method of the statement of cash flows.
• Describe whether all three sections of the cash flow statement are different when using either method.
• Describe which method is preferred by the FASB.
• Describe how are the following calculated when preparing the cash flow statement using the direct method:
  • Cash collected from customers,
  • Cash paid for merchandise,
  • Cash paid to employees and cash paid for other accrued expenses, and
  • Cash paid for other operating costs including insurance and other prepaid expenses.