Please perform the direct method statement of cash flows operating section only for this information. I already did the indirect. Should net cash be equal on both methods? Please help

Chapter 16 Graded Written Homework Name INSTRUCTIONS PART 1 Using the information provided below, operating activities using the indirect method. Disclose any prepare a complete statement of cash flows: reports its (Adapted from PR16-1B and PR16-3B) method. Disclose any noncash investing and financing activies in a note. Gazelie Corporation, a marchandicer, recenty completed ts calendar-year 2013 operations For (1) all sales are credit sales, (2) all credts to Accounts Recoivable refect cash receipts rom all purchases of inventory are on credit (4) all debits to Accounts Payablie reftect cash payments for inventory, and (5) Other Expenses are paid in advance and are intialy company's balance sheets and income statement foilow recently completed its calendar-year 2013 operations For the year receipts trom customers, ) debited to Prepaid Expenses. The Comparaive Balance Saeets Additional Information on Year 2013 Transactions: a) Equipment was sold for cash. b) Purchased equipment costing $113,250 by paying 20132012 Assets Cash Accounts receivable $43,250 cash and signing a long-term note 123450$61,550 17,100 30,750 240.600 250,700 15, 100 17,000 242.250 200,000 c) d) e) payable for the balance. The increase in short-term notes payable is the result of borrowing cash. Any reduction in notes payable resulted from a cash payment to reduce the notes payable. Issued 3,000 shares of common stock for cash. Toral assees Liabilities and Equity Account payable Shors-cerm notes payable L term notes Papabl. 17,750 $102.000 5,000 10,000 15,000 200.000 30.000 31.005,000 130 00o +15,00 t301000 3000 Pite capital in cess of par, common stock Recained carnings Toal labdcies and equaty - 230000 125 500 E CORPORATION For Year Ended December 31,2013 Sales Cost of goods sold.. Gross proft Oparating expanses $1,185,000 595,000 590000 s 38.600 62.850 Othar expenses Total eperating apentes 401A50 05 188.550 Ocher gains (lossoc) Loss on sale of squipmone Incoms before aoe Income taxes axperse Nat income 2,100) 186.450 28.350 150,100 5153,100