Following is an income statement for Wickenia Corporation for the year ended December 31, 2009, and a schedule listing the company€™s current assets and current liabilities at the end of 2008 and 2009. Amounts are in thousands.

Required:
(a) Prepare a schedule documenting Wickenia Corporation€™s net cash flow from operating activities for the year ended December 31, 2009, using the indirect method.
(b) Prepare a schedule documenting Wickenia Corporation€™s net cash flow from operating activities for the year ended December 31, 2009, using the direct method.
(c) Briefly evaluate the schedule you prepared in part (a). Does this schedule provide any clues regarding the financial health of Wickenia Corporation? Explain.

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Wickenia Corporation Income Statement For the Year Ended December 31,2009 Sales Cost of Goods Sold Gross Profit Operating Expenses Selling and Administrative Expenses Depreciation Expense Operating Income Gain on Sale of Land Income before Income Tax Income Tax Expense Net Income S38,800 (22,200) S16,600 $4,400 950 (5,350) 2,750 (5,600) $11,250 $14,000 Cash Accounts Receivable Inventory Prepaid Expenses Accounts Payable Accrued Liabilities 12/31/08 $5,850 2,250 3,350 1,750 1,450 $8,400 12/31/09 $2,050 4,900 5,650 400 2,800 1,400 750