a) Using the indirect method, prepare a Statement of Cashflows for December 31, 2016.

b) Using the direct method, prepare ONLY the operating section of the Statement of Cash Flows.

Additional notes:

Depreciation expense is included in operating expenses, as are salaries and wages expense of $197,000.

Equipment with a cost of $65,000 that was 80% amortized was sold during 2016.

Dividends on common shares in the amount of $25,000 were declared and paid during 2016.

- Depreciation expense is included in operating expenses, as are salaries and wages expense of $197,000 - Equipment with a cost of $65,000 that was 80% amortized was sold during 2016. Dividends on common shares in the amount of $25,000 were declared and paid during 2016. JRED: a) Using the indirect method, prepare a Statement of Cash Flows for December 31 , 2016. b) Using the direct method, prepare only the operating section of the Statement of Cash Flows