Question 21 (20 points) 3 Cash Flow Statement V2 (20 Marks) The controller of Nebula Corporation has provided you with the following information: 6 Nebula Corporation Income Statement For the Year Ended December 31, 2017 9 Net sales 650,000 Operating expenses 405,000 Income from operations 245,000 Other revenues and expenses 12 Gain on sale of equipment 25,000 Interest expense 6,000 19,000 Income before income taxes 264,000 Income taxes 92,400 15 Net income 171,600 Nebula Corporation Comparative Account Information 18 Relating to Operations For the Year Ended December 31, 2017 2017 2016 21 Accounts receivable 46,000 40,000 Prepaid insurance 4,000 6,000 Accounts payable 60,000 47,000 Interest payable 900 1,500 Income taxes payable 4,500 6,000 Unearned revenue 18,000 14,000 Instructions Prepare a statement of cash flows (for operating activities only) for the year ended December 31, 2017, using the direct method and the indirect method