Given the following information for Cat Castle Incorporated prepare the statement of cash flows for December 31, 2017 in the indirect method. Ake, Explain the processo preparing Indirect Cashflow and specify the differences with respect to ASPY. and WRS standards between Indirect and Direct Cashflow methods 2017 375 85 5 2016 250 25 6 SO 95 48 10 90 125 325 330 Cash Accounts receivable Interest receivable Inventory Prepaid Expenses Non-current - Note Receivable Property, plant and Equipment inet of depreciation) Accounts payable Accrued liabilities Common Shares Retained Earnings Net income Depreciation expense Gain on sale of property *in 000s 33 45 825 105 50 2 20 56 755 60 1.5 =) Cat Castelas Statement of Cash Flows For Year Ended December 31, 2017 Cash Flow from Operating Activities: Cash How from Financing Activities: Net Increase in Cash: Cash Balance: January 1, 2017 Cash Balance: December 31, 2018 Net Increase in Cash: Cash Balance: January 1, 2017 Cash Balance: December 31, 2018 Explain the process of preparing Indirect Cashflow and specify the differences with respect to ASPE and IFRS standards between Indirect and Direct Cashflow methods