CHAPTER 13 CHECKPOINT PROBLEM 2 Wilma Company had the following infomation available at the end of2018: Income Statement For Year Ended December 31.2018 441,000 Cost of Goods Sold Gross Profit Operating Expenses: 79400 II 900 Total operating Expenses Operating Income 119A000 Other ExpensesLosses Gain on Sale of Equipment Interest Expense Income Before Taxes 117500 income Tax Expense Net Income The following additional information is available: a. Investments costing S38.000 were purchased for cash. b. Equipment costing S20.000 with accumulated depreciation of S2.300 was sold for S22.200 cash. e. Equipment costing S90,000 was purchased S60.000 cash was paid and a S30.000 long-term promissory note was signed for the balance due. e. S1.000 of the long-term note payable was paid. g Land costing S24,700 was sold for S24,700 cash REQUIRED: Complete a set of cash flow Taccounts using the indirect method computing cash flows from operation of B. Complete a set of cash flow Taccounts using the direct method of computing cash flows from operations