The net changes of accounts in the statement of financial position of Black Beauty Inc. at the year-end of 2020 from those at the year-end of 2019 are shown below: Accounts Cash... Accounts receivable. Inventory. Prepaid expenses.. Changes $ 25,400 (3,450) 7,000 (3,800) 250 (60,000) Supplies Land. Buildings.. Equipment...... Accumulated depreciation: Buildings. Office equipment.... Patents........ Accumulated amortization-patents.. Total Assets. Temporary bank overdraft.. Accounts payable...... Income tax payable....... Salary and wages payable. LT notes payable... Bonds payable. Deferred tax liability.. Common shares.. Retained earnings. Total Liabilities... 0 125,000 (17,500) (18,000) (5,000) $ 49,900 (12,000) 2,000 (1,000) 4,000 (10,000) 0 5,000 22,500 39,400 $ 49,900 The condensed income statement of Black Beauty Inc. for 2020 is as follows: Sales....... Cost of sales... Gross profit. Sales & administrative expenses. Salary & wages expenses... Depreciation & amortization expenses. Operating income. Gain on land disposal.. Interest expense. Income tax expense. Net income... Additional information: ..$ 1,160,000 (748,000) 412,000 (163,900) (92,000) (40,500) 115,600 14,400 (41,750) (29,400) $58,850 The beginning balances of cash and temporary bank overdraft of Black Beauty Inc. on January 1, 2020 are $0 and $12,000, respectively. Black Beauty Inc. adopts IFRS; it treats interests received and paid as operating activities, and treats dividend received as operating activities but dividend paid as financing activities. Requirements: a) Prepare a statement of cash flows for Black Beauty Inc. using the indirect method, and show your calculation. (17 marks) b) Prepare the section of Cash provided by operating activities using the direct method, and show your calculation. (8 marks)