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PARNELL COMPANY Selected Accounts from Comparative Balance December 31, 2018 and 2017 ($ in eees) Cash Accounts receivable Inventory Prepaid insurance Accounts payable Salaries payable Deferred income tax liability Bond discount Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method. 2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method Required 1 Required 2 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., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Net cash flows from operating activities Required 1 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., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities

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