II. Statement of Cash Flows: The balance sheets of Thompson Corporation provided the following information (in dollars) Debits Cash Accounts Receivable 12/31/x9 220 240 100 12/31/x8 80 180 160 40 1,000 200 160 820 Long-term Investments Plant and Equipment Land Patents 1,040 800 40 2,540 Credits Accumulated Depreciation (Plant & Equipment) Accounts Payable Accrued Wages Long-term Notes Payable Common Stock Retained Earnings 340 160 20 200 1,000 360 40 380 1,500 260 1820 Additional information: (i) Net Income for 20x9, $240 (ii) Depreciation of plant and equipment, $100 (iii) Amortization of patents, $20 (iv) Sales for 20x9, $1,340 (v) Cost of goods sold, $760 (vi) Other expenses, $300 (vii) At the end of the year, plant and equipment costing $160 (50% depreciated) was sold $60 (viii) Purchased land costing S600; paid $440; gave long-term note for the balance. (ix) Paid S80 on long-term notes. (x) Issued common stock for $500 cash. (xi) Purchased plant and equipment costing $200; paid one-half cash; gave a long-term note for the balance due. (xii) Sold the long-term investments for $140. (xiii) Paid dividends, $80 Required Prepare the Statement of Cash Flows using the direct as well as indirect approaches