PRINTER VERSION The statement of income of Kneale Transport Inc. for the year ended December 31, 2020, reported the following condensed information: KNEALE TRANSPORT INC. Income Statement Year Ended December 31, 2020 Service revenue $545,000 Operating expenses 370,000 Income from operations 175,000 Other revenues and expenses Gain on disposal of equipment $25,000 Interest expense 10,000 15,000 Income before income tax 190,000 Income Tax 42,000 Net Income $ 148,000 Kneale's statement of financial position included the following comparative data at December 31: 2020 2019 Accounts receivable $50,000 $60,000 Prepaid insurance 8,000 5,000 Accounts payable 30,000 41,000 Interest payable 2,000 750 Income tax payable 4,500 Unearned revenue 10,000 14,000 8,000 Additional information: Operating expenses include $70,000 in depreciation expense. The company follows IFRS. Assume that interest is treated as an operating activity for purposes of the statement of cast (c) From the perspective of an external user of Kneale Transport's financial statements, discuss the usefulness of the statement of cash flows prepared using either the indirect or the dire