Stallion Ltd. has prepared the following comparative statements of financial position on December 31, 2021 and 2022: Stallion adheres to ASPE. Cash Accounts receivable....... Inventory. Prepaid expenses Property, plant & equipment Accumulated depreciation.. Goodwill.......... Accounts payable......... Accrued liabilities. Mortgage payable Preferred shares. Common shares. Retained earnings...... 2022 $ 99,000 2021 $ 51,000 53,000 39,000 50,000 60,000 6,000 9,000 420,000 350,000 (150,000) (125,000) 51,000 58,000 $ 529.000 $ 442,000 $ 51,000 $ 56,000 20,000 14,000 150,000 215,000 200,000 200,000 43,000 22,000 $ 529.000 $ 442,000 1. The Accumulated Depreciation account has been credited only for the depreciation expense for the year. There were no disposals of property, plant and equipment, but new equipment was purchased during 2022. 2. Depreciation expense and a charge for impairment of goodwill have both been included in operating expenses. 3. The Retained Earnings account was debited for cash dividends declared and paid of $ 46,000 and credited for the net income for the year. The condensed income statement for 2022 is as follows: Sales........... Cost of sales..... Gross profit Operating expenses. Net income. $660,000 363,000 297,000 230.000 $ 67,000 Instructions From the information above, prepare the operating section of the case flow statement using EITHER the direct method OR the indirect method for calendar 2020. You do not need to do both