A comparative balance sheet for "BETA" Company containing data in E for the last recent years is as follows: Comparative Balance Sheet Liabilities & Stockholders Assets 20X1 20X0 Equity 20X1 20X0 Fixed assets: Stockholders' equity: Property, plant and equipment 116,529 86,975 Common stock 16,550 5,707 Less accumulated depreciation (27,231) Net property, plant and equipment 89.298 (18.843) Retained eamings Total stockholders' 68,132 equity (29) 3,802 16,521 9,509 Long-term Long term investments 1,470 1,665 liabilities Total fixed assets 90.768 69,797 Long-term debt 1,000 42,021 Total long-term Current assets liabilities 1,000 42,021 Cash and cash Current liabilities: equivalents 1.159 1.583 Accounts receivables 7.045 5.374 Accounts payable 13.428 8.179 Inventories 16.606 4.014 Notes Payable 13.204 12,425 Prepayment 1979 Short-term debt 600 1.545 Current portion of Total current assets 15.575 11,900 long-term debi 61.590 8.018 Total current liabilities 88.822 30.167 Total liabilities 89,122 72.188 Total assets Total liabilities & 81.697 stockholders equity 106,343 81.697 The company reported for the current year 20X1 the following income statement: Income Statement Sales 74,988 Cost of goods (57,997) Gross margin 16,991 Selling expenses (10,881) General and administrative expenses (10,841) Net operating income (4,731) Interest revenues 900 Net income (3,831) Required: 1. Prepare the cash flow statement for "Beta" Company using the indirect method (25%) 12. Analyze the cash flow statement for "Beta" Company. (max 250 words) (5%). 3. Discuss arguments against preparing the cash flow statement using the indirect method (max 250 words) (1096)