Please just do the INDIRECT method (question 2)

Sunland Inc. reported the following information at the end of its 2017 fiscal year Sunland Inc. Statement of Financial Position As at April 30, 2017 2017 2016 Assets Cash Accounts receivable Merchandise inventory Prepaid operating expenses Long term investments Equipment Less: Accumulated depreciation 209,000 114,000 107,000 20,000 181,000 1,242,000 (358,000) 153,000 97,000 254,000 12,000 87,000 1,148,000 (374,000) 1,515,000 1,377,000 Liabilities and Shareholders Equity Accounts payable Income tax payable Bonds payable Common shares 100,000 issued and outstanding Retained earnings 53,000 30,000 662,000 65,000 27,000 753,000 325,000 254,000 445,000 1,515,000 278,000 1,377,000 Sunland Inc. Income Statement For the year ended April 30, 2017 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Gain on sale of equipment Income before income tax Income tax expense Net income 1,115,000 685,000 430,000 223,000 207,000 4,200 3,500 206,300 19,610 $186,690 ADDITIONAL INFORMATION: Depreciation expense is included in "operating expenses." All accounts payable transactions were related to the purchase of inventory. During the year, a piece of equipment that originally cost $53,200 was sold for cash. The equipment was 70% depreciated at the time of the sale. Long-term investments were purchased for cash during the year. Required: 1. 2. Prepare a statement of cash flows, in good form, for Sunland Corporation, using the direct method Prepare a statement of cash flows, in good form, for Sunland Corporation, using the indirect method