Burris Corporation's balance sheet accounts as of December 31, 2015 and 2 014 and information relating to 2015 activities are presented below. Information relating to 2015 activities follows: Net income for 2015 was $182,000. Equipment with a cost of $63,000 and a book value of $40,000 was sold for $57,000 cash. New equipment and land were purchased during 2015 in cash. Cash dividends were declared and paid in 2015. Requirement 1: Prepare a statement of cash flows for Burris Corporation for 2015 using indirect method. Burris Corporation, Statement of Cash Flows, For the Year ended on December 31, 2015 The income statement of Burris Corporation for 2015 is below. Burris includes depreciation expense and gains or losses from sale of equipment in selling, general and administrative expenses. Requirement 2: Prepare the operating activities section of the statement of cash flows for Burris Corporation for 2015 using direct method. Burris Corporation Statement of Cash Flows For the Year ended on December 31, 2015