The following balance sheet and income statement data were taken from the records of L.L. Beeno for the year ended December 31, 2015:

20152014

BALANCE SHEET

Assets

Cash$3,000$2,800

Accounts Receivable5,6004,500

Inventory7,5007,800

Prepaid Insurance600900

Total Current Assets$ 16,700$16,000

Machinery (net)29,00026,000

TOTAL$45,700$42,000

Liabilities

Accounts Payable$5,600$7,300

Wages Payable4,5003,400

Total Current Liabilities$ 10,100$10,700

Bonds Payable (net)14,00014,800

Capital Stock5,0005,000

Retained Earnings16,60011,500

TOTAL$45,700$42,000

INCOME STATEMENT

Revenues$47,000

Costs of Gods Sold25,000

Gross profit$22,000

Wage Expense(6,200)

Insurance Expense(4,200)

Interest Expense(1,600)

Depreciation Expense(3,300)

Net Income Before Taxes$6,700

Tax Expense1,200

Net Income$5,500

Prepare the operating section of the statement of cash flows, and present it under both the direct and indirect methods.