2. Presented below are the 2021 income statement and comparative balance sheets for Kenne Diagnostics, Inc. Additional information for the 2021 fiscal year (\$ in thousands): a. Cash dividends of $1,500 were declared and paid. b. Equipment costing $5,000 was purchased with cash. c. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciati on of $1,000 ) was sold for $500. d. Dep reciation of $1,600 is included in operating expenses. Required: a. Prepare Kenne Diagnostics, Inc.'s 2021 statement of cash flows, using the indirect meethod to present cash flows from operating activities b. IAS No. 7 [Statement of Cash Flows "International Accounting Standard No. 7 (IASCF), as amended effective Jan.1, 2016] allows more flexibility to companies to prepare the statement of cash flows. How does IFRS differ from US-GAAP in terms of the classification of items in a statement of cash flows? ( 20 points)