IV. Prepare a statement of Cash flows according to the following data. 6 ITEMS BALANCE SHEET ABC Corporation Dec 31.2017 and 2018 2018 Aasta Current Assets Cash 2017 Inventory Prepaid Expenses Total Notes Receivable Accounts Receivable 17388.00 2766.00 15000.00 5443200 378.00 8996400 5670.00 2790.00 1800000 4347000 41580.00 1890.00 6990.00 48006.00 Plant Assets Plan Assets-Original Cost 22341000 189390.00 Total Plant Assets Les Accumulated Depreciation 38934.00 184476.00 Intangible Assets Tatal 4686000 364770.00 25704:00 163686.00 1500.00 283122.00 Liabilitics Notes Payable Accounts Payable 900.00 18000.00 1254.00 1500000 303600 1602.001 150000 1800.00 Income Tax Payable 113400 1890.00 Long term Liabilities Total Curent Liabilities 24570.00 21546.00 Bonds Payable 111510.00 13600.00 92610.00 114156.00 Common Stock 104328.00 75600.00 Paid-in Capital in Excess of Par Value 71442.00 43470.00 Retained Earnings $2920.00 49896.00 Total Owners' Equity 225690.00 168966.00 Total Liabilnies and Owen Equity 36-4770.00 283122.00 THE INCOME STATEMENT ABC Corporation For the year ended Dec. 31.2018. ITEMS AMOUNTS Sales 263844.00 Cost of Goods Sold 196560.00 Gross Margin 67284 00 Salaries Expense 15000.00 Operating Expenses (Including depreciation expense $13986.00) Income 40566.00 11718.00 Other Income or Interest Expense (8694.00) Interest Income 2268.00 Loss on Sale of Plant Assets Gain on Sale of Investments 4536 00 (1134.00) Total Other Income or Expenses Income Before Tax (3024.00) 5694.00 Income Tax 2646.00 Net Income Apart from the balance sheet and the income statement, there are other transactions receded in relating accounts as follow 1. Purchased intangible assets in the amount of $45360.00 2. Purchased other company's stacks in the amount of $29464.00 3. Sold some plant assets, the price is $1890.00, the original cost is $3780.00, the accumulated depreciation is $756.00 4 Sold long-sem govemment bonds, the price is $38556.00, and the cost is $3402000 5. Issued $37800.00 of bonds at face value in a noncash exchange for plant assets 6. Issued common stock for $56700.00, the face valac is $28728 00, and the paid-in capital in excess of par value is $27792.00 7. Repaid $18900.00 of bonds at face value at maturity. * Paid cash dividends in the amount of $3024.00 Instructions: prepare the statement of cash flows use direct method(24) prepare the statement of cash flows use indirect method(12)