prepare the cash flow using the indirect and direct method

direct me c. Using the Indirect method. Company for the year ended May 31, 2022 P23.7 (LO 2, 3, 4) tion accounts of Shi Group are presented below. (SCR Direct and Indirect Methods) Comparative statement of financial Cash 75.000 55.000 70,000 145.000 40.000 HK$610,000 2021 HK$ 51,000 130,000 61,000 85,000 48.000 145,000 25.000 HKS545,000 Shi Group Comparative Statement of Financial Position Accounts As of December 31 (in thousands) 2022 Debit Balances HK$ 70,000 155.000 Accounts Receivable Inventory Equity Investments (non-trading) Equipment Buildings Land Totals Credit Balances Allowance for Doubtful Accounts Accumulated Depreciation Equipment Accumulated Depreciation --Buildings Accounts Payable Income Taxes Payable Long-Term Notes Payable Share Capital-Ordinary Retained Earnings Totals HK$ 10,000 21,000 37.000 66,000 12.000 62,000 310,000 92,000 HK$610,000 HK$ 8,000 14.000 28.000 60,000 10,000 70,000 260,000 95,000 HK$545,000 Additional data: 1. Equipment that cost HK$10,000 and was 60% depreciated was sold in 2022. 2. Cash dividends were declared and paid during the year. 3. Ordinary shares were issued in exchange for land. 4. Equity investments that cost HK$35,000 were sold during the year. 5. There were no write-offs of uncollectible accounts during the year. Shi's 2022 income statement is as follows. HK$950,000 600,000 350,000 250,000 100,000 Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses (includes depreciation expense and bad debt expense) Income from operations Other income and expense Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income HK$15,000 (3.000) 12,000 112,000 45,000 HK$ 67,000