The financial statements for Beringin Sdn. Bhd. the year ended 31 December 2016 and 2015 are as follows. Assume that equipment costing RM125,000 was purchased for cash and the land was sold for RM15,000. The ordinary shares were issued for cash and the only entries in the retained earnings account were net income of RM56,000 and cash dividends declared and paid of RM18,000. Income taxes expense was RM14,000 and paid in the same year. Required: a) Prepare a Statement of Cash Flows using the indirect method of reporting cash flows from operating activities. (15 marks) b) Explain TWO (2) purposes of Statement of Cash Flows. (2 marks) c) Differentiate between direct method and indirect method of reporting cash flows from operating activities. (3 marks) [Total: 20 marks]