FANCY FOOTWORK COMPANY INCOME STATEMENT For the year ended Dec 31, 2013 Sales 750000 Cost of Goods Sold 530000 Gross Margin 220000 Selling and administrative expenses 106000 Income from Operations 114000 Other revenues and gains Gain on sale of investments 7000 Income before tax 121000 Income tax expense 48400 Net Income 72600 Additional information: During the year, $9000 of common stock was issued in exchange for plant assets. No plant assets were sold in 2012. Cash dividends were $32500. Required: A) Prepare a statement of cash flows using the indirect method B) Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)