The 2024 income statement and comparative balance (i) (Click the icon to view the additional sheet of Digital Subscriptions, Inc. follow: information.) (Click the icon to view the income statement.) Read the requirements. (Click the icon to view the comparative balance sheet.) Requirement 1. Prepare the 2024 Statement of Cash Flows by the direct method (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Digital Subscriptions, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit 236,800 Operating Expenses: Salaries Expense $78,400 Depreciation Expense-Plant Assets 14,300 Other Operating Expenses 10,600 Total Operating Expenses +103,300 20242023 Assets Current Assets: Current Liabilities: Accounts Payable Accrued Liabilities 35,100$28,00030,20030,800 Long-term Liabilities: Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity \begin{tabular}{rr} 88,400 & 64,800 \\ 36,400 & 4,100 \\ \hline 124,800 & 68,900 \\ \hline$4263,900 & $34,900 \\ \hline \end{tabular} More info Additionally, Digital Subscriptions purchased land of $24,800 by financing it 100% with long-term notes payable during 2024. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $11,340. The plant acquisition was for cash. Requirements 1. Prepare the 2024 statement of cash flows by the direct method. 2. How will what you learned in this problem help you evaluate an investment