P17.9 (LO 2), AP Condensed financial data of Granger Inc. follow.

Granger Inc. Comparative Balance Sheets December 31 2022 2021 Assets Cash $80,800 $48,400 Accounts receivable 87,800 38,000 Inventory 112,500 102,850 Prepaid expenses 28,400 26,000 Long-term investments 138,000 109,000 Plant assets 285,000 242,500 Accumulated depreciation (50,000) (52,000) Total $682,500 $514,750 Liabilities and Stockholders Equity Accounts payable $102,000 $ 67,300 Accrued expenses payable 16,500 21,000 Bonds payable 110,000 146,000 Common stock 220,000 175,000 Retained earnings 234,000 105,450 Total $682,500 $514,750 Granger Inc. Income Statement Data For the Year Ended December 31, 2022 Sales revenue $388,460 Less: Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense 27,280 Interest expense 4,730 Loss on disposal of plant assets 7,500 233,880 Net income $154,580 Additional information:

New plant assets costing $100,000 were purchased for cash during the year. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of $26,030 was declared and paid during the year. Common stock was issued at par for cash. There were no significant noncash transactions. Instructions

Prepare a statement of cash flows using the indirect method.

Net cash providedoper. act.$176,930

Prepare a statement of cash flowsdirect method.