ABC Corporation recently hired your CPA firm to help them with the audit of their year-end financial statements. Your manager has assigned you the task of putting together the statement of cash flows. Because the manager wants to teach the client about the statement, you are tasked with creating both a direct method AND an indirect method. The client provides you with the following information. Create a complete Statement of Cash Flows using the direct method. Create a complete Statement of Cash Flows using the Indirect Method. Both should be in a perfect format and include everything required. ABC Corporation COMPARATIVE BALANCE SHEETS For the Years ended 12/31/25 and 12/31/24 ABC Corporation INCOME STATEMENT The following additional data were provided: 1. Dividends for the year 2025 were $192,000. 2. During the year, equipment was sold for $240,000. This equipment cost $352,000 originally and had a book value of $288,000 at the time of sale. The loss on the sale was incorrectly charged to cost of good sold. 3. All depreciation expense is recorded as a selling expense. 4. The company exchanged 40,000 shares of its common stock for land valued at $400,000. The value of the stock at that time was unknown, as this is a privately-held company