Following are Balance Sheet and Income Statement for ABC Company: ABC Company Balance Sheet December 31, 2007 and 2008 2007 2008 Net sales Rs. 50,000 R$ 38,000 Cost of sales 65,000 72,000 Gross profit Other 35,000 98,000 expenses Profit before 150,000 195,000 taxes ABC Company Income Statement For ther Year Ended December 2008 Rs:145,000 108.000 37,000 Assets Cosh Net Receivable Inventory 6,000 31,000 Plant assets Accumulated Depreciation Total Assets 95.000 Rs 355,000 145.000) Tax expense Rs 358,000 Net Income 12.000 Rs: 19,000 Liabilities and Stockholders' Equity Accounts payable Rs: 80,000 Accrued liabilities 61,000 Mortgage payable 0 Common stock 174,000 Retained earnings 40.000 Liabilities and Stockholders Equity Rs 355.000 Rs 89,000 44,000 11,000 180,000 38.000 Rs 358,000 Other Data: 1. You can calculate dividend pald and depreciation from the Balance Sheet and income Statement 2. Depreciation is included in the cost of sales a. Prepare the statement of cash flows for the year ended December 31, 2008, using both the direct and the Indirect method for the net cash flow from operating activities