1. Using the information below for ABC Pty Ltd, prepare a statement of cash flows for the year 2017 using the direct format. 2. Briefly provide an interpretation of the statement of cash flows ABC Pty Ltd Income statement for the year ended 31 December 2017 $ 540,350 (387,140) 153,210 Sales revenue Cost of Goods Sold Gross profit Expenses: Wages Utilities Insurance Rent Depreciation Interest Supplies 58,400 5,600 4,800 12,000 14,200 980 10,800 106,780 46,430 13,929 $ 32,501 rofit before tax ncome tax expense "rofit for the period