Cash nows from operating activities Cash receipts from customers $45,800,000 Cash paid to suppliers (29,800,000) (11,200,000) Cash paid to employees Cash generated from operations 4,800,000 Interest paid (310,000) (1.700,000) Income taxes paid Net cash from operating activities $2,790,000 Cash flows from investing activities Purchase of property, plant, and equipment (580,000) 110,000 Proceeds from sale of equipment Net cash used in investing activities (470,000) Cash flows from financing activities Proceeds from issuance of common stock 1,000,000 500,000 Proceeds from issuance of long-term debt Principal payments under capital lease obligation (10,000) Dividends paid (450,000) Netcosh used in financing activities 1.040.000 Net Increase in cash and cash equivalents 3,360,000 1.640.000 Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period $5.000.000 Proceeds from Issuance of common stock 1,000,000 Proceeds from Issuance of long-term debt 500,000 Principal payments under capital lease obligation (10,000) Dividends paid (450,000) Net cash used in financing activities 1,040,000 Net increase in cash and cash equivalents 3,360,000 Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 1640.000 $5,000,000 Identify the method used to prepare the Statement of Cash Flows presented above? Indirect Method Direct Method Allowance Method First in First out