1. prepare to complete statement of cash flow for a year ended 2024 using the indirect method

2. Prepare only the operating activities of the statement of cash flow for year ended 2004 using the direct method

Question 15 54 pts Cooper's Company Income Statement Year Ended 12/31/2024 Sales Cost of Good Sold Gross Profit Operating Expenses: \begin{tabular}{lll} Depreciation Expense & $26,460 & \\ Other Expenses & 43,200 & \\ Interest Expense & 1,800 & \\ Total Operating Expenses & & 71,460 \\ Operating Income & 71,730 \\ Loss on Sale of Equipment & 7,560 \\ Income Before Taxes & 64,170 \\ Income Tax Expenses & 24,885 \\ Net Income & $55,575 \end{tabular} Cooper's Company Comparative Balance Sheet Years Ended 2024 and 2023 \begin{tabular}{lll|} & \multicolumn{2}{l}{ Years Ended 2024 and 2023} \\ & 2024 & 2023 \\ ASSETS & & \\ Cash & $22,176 & $20,736 \\ Accounts Receivable & 28,962 & 26,460 \\ Inventory & 65,813 & 55,539 \\ Long-Term Investments & 50,310 & 50,760 \\ Machinery & 157,950 & 130,950 \\ Accumulated Depreciation & 30,195 & 28,080 \\ TOTALASSETS & $295,016 & $256,365 \\ LIABILITIES \& & & \\ STOCKHOLDERS' EQUITY & & \\ Accounts Payable & $58,500 & $36,342 \\ Income Tax Payable & 9,653 & 9,180 \\ Notes Payable - Long-term & 43,875 & 59,400 \\ Common Stock & 105,300 & 86,400 \\ Paid-In-Capital & 11,700 & 8,100 \\ Retained Earnings & 65,988 & 56,943 \\ TOTAL LIAB \& S/E & $295,016 & $256,365 \\ Additional information: & & \\ (1) Cash dividends of $30,240 & & \\ were paid. & & \\ (2) New machinery was & & \\ purchased for $61,120 cash. & & \\ (3) Old machine was sold at a & & \\ loss of $7560. & & \\ \hline \end{tabular}