A. Prepare a statement of cash flow on both the direct and indirect methods 2023 2022 Assets: Cash 200,000 170,000 Accounts receivable, net 87,000 65,000 Inventory 55,000 60,000 Property, plant & equipment 700,000 600,000 Accumulated depreciation -100,000 -60,000 Total Assets 942,000 835,000 Liabilities & Equity Accounts payable 55,000 60,000 Accrued liabilities 36,000 40,000 Common stock 460,000 460,000 Retained earnings 391,000 275,000 942,000 835,000 Sales 1,200,000 Cost of goods sold 650,000 Gross profit 550,000 Operating expenses 180,000 Pre-tax income 370,000 Income taxes 74,000 Net income 296,000