Condensed financial data of Sinjh Ltd. follow. Sinjh Ltd. Comparative Statements of Financial Position December 31 2014 2013 Equipment 265,000 242,500 Accumulated depreciation equipment -47,000 -52,000 Long term investments 140,000 114,000 Prepaid expenses 29,300 26,000 Inventory 112,500 102,850 Accounts receivable 92,800 33,000 Cash 100,350 48,400 Total 692,950 514,750 Equity and Liabilities Share capital-ordinary 220.000 175.000 Retained earnings 234,450 105.450 Bonds payable 110,000 150.000 Accounts payable 112.000 67300 Accrued expenses payable 16.500 17.000 692,950514750 Total Sinjh Ltd. Comparative Statements of Financial Position December 31 Sales revenue 392,780 Gain on disposal of plant assets 5,000 397.780 Less: Cost of goods sold 135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 45,000 27.280 Income tax expense Interest expense 4730 224,880 Net income 172.900 Additional information: 1. New equipment costing $80,000 was purchased for cash during the year. 2. Old equipment having an original cost of $57.500 and accumulated depreciation of $50,000 was sold for $12,500 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $43.900 was declared and paid during the year. Instructions 1) Prepare a statement of cash flows using the indirect method. ) Data for Sinil Ltd. are presented in Pig-9A. Further analysis reveals that accounts pavable pertain to merchandise creditors. Prepare a statement of cash lows for Sinh Ltd, using the direct method