36) The income statement and a partial balance sheet of Williams Company for the year ended December 31, 2014 is presented below. Prepare the operating activities section of the statement of cash flows using the direct method. Assume the Accrued Liabilities relate to Miscellaneous Operating Expenses.
Cost of Goods Sold 1,170,000
Miscellaneous Expenses 30,000300,000
Partial Balance Sheet
Accounts Receivable (net)150,000150,000
Accounts Payable (inventory)174,000153,000