Question: Below are the balance sheets and income statement for Chaps Company. Please prepare the statement of cash flow using both the direct and indirect methods.

Below are the balance sheets and income statement for Chaps Company.

Below are the balance sheets and income statement for Chaps Company. Please prepare the statement of cash flow using both the direct and indirect methods. Additional information: a. Sold factory equipment with a cost of $100,000 and accumulated depreciation of $75,000 for $50,000 b. The company purchased new equipment during 2016 and issued $98,000 in common stock for part of the purchase

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