ZAMSEED had the following 2019 income statement. Revenue K400, 000 Cost of goods sold 240,000 Gross profit 160,000 Operating expenses 100,000 Net income 60,000 Operating expenses includes a depreciation expense of K42, 000.The following accounts increased during 2019: accounts receivable K24, 000, inventory K2

2, 000, and accounts payable K26, 000. Required a) Prepare the cash flows from operating activities section of ZAMSEED using the indirect method. (5 marks) b) Prepare the cash flows from operating activities section of ZAMSEED using the direct method. (6 marks) c)You class mate is not sure on which method of preparing cash flows from operating activities should be used by ZAMSEED .Citing relevant financial reporting standard explain to you class mate on the current IFRs requirement. (4 marks)