Wah Nobel Company balance sheet and income statement follow: December 31 1997 1996 Assets Cash Rs. 4,500 4,000 Marketable Securities 2,500 2,000 Accounts Receivable 6,800 7,200 Inventories 7.500 8,000 Total current assets 21,300 21,200 Land 11,000 12,000 Equipment 24,000 20,500 Accumulated depreciation-equipment (3,800) (3,000) Building 70,000 70,000 Accumulated depreciation-building (14.000) (12,000) Total Assets 108,500 108,700 Liabilities and Stockholders' Equity Accounts Payable 7,800 7,000 Wages payable 1,050 1,000 Taxes payable 500 1.500 Total current liabilities 9,350 9,500 Bonds payable 30,000 30,000 Common stock Rs. 10 par 32,000 30,000 Additional paid in capital 21,000 19,200 Retained earning 16,150 20.000 Total liabilities and stockholders' equity 108,500 108,700 Sales 38,000 Operating expenses Depreciation expense 2,800 Other operating expenses 35,000 37.800 Operating income 200 Gain on sale of land 800 Income before tax expense 1.000 Tax expense 500 Net income 500 Supplemental information Dividend declared and paid 4,350 Land sold for cash 1,800 Equipment purchased for cash 3,500 Common stock sold for cash 3,800 Required (a). Prepare a statement of cash flows for the year ended December 31,1997 using Indirect Method. (b). Prepare a statement of cash flows for the year ended December 31,1997 using Direct Method for net cash flow from operating activities