P17-3A The 20X3 income statement and comparative balance sheet of Zurich Telecom, Inc... are given below. ZURICH TELECOM, INC. Income Statement for 20X3 Revenues: Sales revenue. Interest revenue Total revenues. Expenses: $427,000 11.700 438,700 Cost of goods sold. $205,200 Salary expense...... 76,400 Depreciation expense. 15,300 Other operating expense. 49.700 Interest expense 24,600 Income tax expense 16.900 Total expenses.. 388,100 Net income $ 50.600 Zurich Telecom had no noncash investing and financing transactions during 20X3. During the year, there were no sales of land or equipment, no issuances of notes payable. no retirements of stock, and no treasury stock transactions. Required 1. Prepare the 20X3 statement of cash flows, formatting operating activities by the direct method. See the company balance sheet at the top of the next page. 2. How will what you learned in this problem help you evaluate an investment?