Part One: Compute the cash flows from operating activities using the direct method and indirect method.

The financial statements for B. Fett Company included the following information on December 31, 2020: B. Fett Company Income Statement For Year ending on 12/31/20 Sales 94,600 Cost of Goods Sold 45,700 Gross Profit 48,900 Operating Expenses: Insurance 3,300 Salaries 17,400 Depreciation 1,100 Rent 9,800 Utilities 5,400 Total Operating Expenses 37,000 Operating Income 11,900 Interest Expense 900 Income Before Taxes 1 1,000 Income Tax Expense 2,400 Net Income 8,600 REQUIRED: Using the attached T-accounts, compute the cash flows fromoperating activities using the A. direct method B. indirect method