The Christie Company Balance Sheet As of December 31, Assets: 12/31/2018 12/31/2017 Cash Accounts receivable Inventories Investments Land Equipment Accumulated depreciation Total Assets $ 145,310 176,500 243,200 303,300 65,000 248,500 321,600 95,000 333,500 275,000 103 S 1.034.410 S Liabilities & Shareholders' equity: Accounts payable s 151,100 S 235,700 12,500 20,000 12,000 110,000 569,600 $ 1,034.410 S 959,800 Accrued expenses 9,000 25,500 15,000 195,000 638,810 Dividends payable Common stock Paid in capital in excess of par value Retained earnings Total liabilities and shareholders' equity The Christie Company Income Statement For the year ending December 31, 12/31/2018 12/31/2017 Sales Cost of merchandise sold Gross profit Operating expenses: Depreciation expense Other operating expense Operating income Gain on sale of investments Gain on sale of equipment Income tax expense Net income S 1,465,000 $ 1,350,000 880,000 470,000 892.000 573,000 21,300 19,000 286,300 164,700 267,200 16,000 4,100 69,500 61,000 $ 217,800 103,700 The following additional information was taken from the records: a. Equipment and land were acquired for cash. b. Equipment costing $20,000 with a Accum. Depr. Of $15,000 was sold for $9,100 c. The investments were sold for $81,000 cash. d. The common stock was issued for cash. e. Dividends were paid for the year 2018. Instructions: 1. Prepare a statement of cash flows using the indirect method for the year 2018. 2. Prepare a statement of cash flows using the direct method for the year 2018