Question 2 Using the below data, calculate operating cash flows using the direct method. (-) for income statement items reflects outflows. Income statement 2020 Sales 2,250,000.00 COGS 800,000.00 Depreciation expense 100,000.00 Wages and salary expense 78,000.00 Advertising expense 26,000.00 R&D expense 11,000.00 Other operating expenses 75,000.00 EBIT 1,160,000.00 Interest expense 50,000.00 EBT 1,110,000.00 Income tax expense 94,500.00 Net Income 1,015,500.00