Required Information Problem 21-8 (Algo) Cash flows from operating activities (direct method and indirect method)deferred Income tax liability and amortization of bond discount [LO21-3, 21-4] [The following information applies to the questions dispiayed below.] Portions of the financial statements for Parnell Company are provided below. Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) Required: 2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method, (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)