Can you please do the Indirect and Direct method of this transaction.

Group B Problems Statement of cash flows indirect method 0 (60 min) 16B-1. From the following income statement (Figure 16-18), balance sheet (Figure 16-19), and additional data for Blumer Limited, prepare a state- ment of cash flows using the indirect method. Additional Data: 1. All increases in Plant and Equipment were paid for in cash. 2. No dividend was declared in 2013. 3. Sold 2,000 shares of stock for cash of $2,000. Hint: Office Equipment and Machinery are recorded at net on the balance sheet. Be sure to add back amortization expense to the cost of the assets in 2013 to compute the actual cost of the additional assets purchased Figure 16-18 Income Statement for Blumer Limited BLUMER LIMITED INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2013 Sales Cost of Goods Sold Gross Profit $ 300 000 2 goo 00 $ 1100000 $ Check Figure Net Increase in Cash $1500 Operating Expenses Amortization Expense, Equipment Amortization Expense, Machinery Advertising Expense Salary Expense Miscellaneous Expense Total Operating Expenses Net Income sog00 50000 166000 1 800 00 360000 7 360.00 $36000 Figure 16-19 Balance Sheet for Blumer Limited BLUMER LIMITED BALANCE SHEET DECEMBER 31, 2013 AND 2012 2013 2012 Assets Current Act Cash Accounts Receivable, Net Merchandise Inventory Total Current Assets $ 30.000 $ 550,00 260.00 290000 3200,00 203000 592000 585000 Plant and Egment Office Equipment Net Machinery Net Land Tocal Plant and Equipment Total Asses ARDO s do solo solo 380.00 11 JANOD s12a.cools sablo SIG $1390000 Liabidities Current Liate Notes Payabi Sharm Accounts Payable Total Current Liabilities 52000 S ODO 15000 $ 219000 $ 2131000 Long Term Liabilities Mortgage Payable Total Liabilities 5212000 the 530 535100 Shareholders' Equity Common Shares Rendang Total Shareholders Equity Totalities and Shareholders Egy 5 95 3o po 315 30.00 61 300 2 bolo 51560000 $1002000 IS199600 18000 Statement of cash flow-direct method 0 (60 min) 16B-2. From the financial statements and additional information provided in Problem 16B-1 for Blumer Limited, prepare a statement of cash flows using the direct method Checker Cash Received from Customers 536,230