Kazaam Company, a merchandiser, recently completed its calendar-year 2011 operations, for the year, all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The company's balance sheets and income statement follow. ADDITIONAL INFORMATION The Company sold two equipment during the period. The first equipment had a cost of $93,750, with accumulated depreciation of $56,250 and was sold for a loss. The second equipment was sold for a gain. The amount of the loss and gain is shown on the income statement. The company purchased equipment costing $313,200 by paying $100,000 cash and signing a long-term note oayable for the balance. The company borrowed $30,000 cash by signing a new short-term note payable. REQUIRED: Prepare a complete statement of cash flows; report its operating activities using the indirect method. Prepare a complete statement of cash flows; report its operating activities using the direct method