Carson Inc.s Comparative Balance Sheets for $2024$ and $2023$ and Income Statement for $2024$ are presented below. Carson Inc.Comparative Balance SheetsDecember $31,2024$ and $2023$ Assets $20242023$Cash$$105,000$$ $76,500$Accounts Receivable $232,500195,000$Allowance for Doubtful Accounts $(15,000)(12,000)$Inventory $112,50091,500$Debt Investments $82,500127,500$Equipment $105,00072,000$Accumulated Depreciation Equipment $(31,500)(21,000)$Buildings $217,500217,500$Accumulated Depreciation Buildings $(55,500)(42,000)$Land $60,00037,500$Totals$$813,000$$$742,500$ LiabilitiesAccounts Payable$ $99,000$$ $90,000$Income Taxes Payable $18,00015,000$Long$-$Term Notes Payable $\_93,000105,000$Totals$$210,000$$$210,000$ Stockholders EquityCommon Stock$$465,000$$$390,000$Retained Earnings $138,000142,500$Totals$$603,000$$$532,500$ Totals Liabilities and Stockholders Equity$$813,000$$$742,500$ Carson Inc.Income StatementFor Year Ended December $31,2024$ Sales Revenue$$1,425,000$Less: Cost of Goods Sold $900,000$Gross Profit$ $525,000$Less: Operating Expenses$*375,000$Income from Operations$ $150,000$Other Revenues and Expenses:Gain on Sale of Debt Investments$$22,500$Loss on Sale of Equipment $(4,500)18,000$Income before Taxes$ $168,000$Income Tax Expense $67,500$Net Income$ $100,500*$Operating Expenses include Depreciation Expense and Bad Debt Expense. Additional information from the accounting records:$1.$ Equipment that cost $$15,000$ and was $60\%$ depreciated was sold in $2024\mathrm{.}2.$ Common stock was issued in exchange for land$\mathrm{.}3.$ No stock dividends were declared$\mathrm{.}4.$ Cash dividends were declared and paid during the year$\mathrm{.}5.$ Debt investments that cost $$52,500$ were sold during the year$\mathrm{.}6.$ There were no write$-$offs of uncollectible accounts during the year. Instructions:a$.$ Prepare a complete Statement of Cash Flows using the direct method.b$.$ Reconcile net income to cash $($Operating section of a Statement of Cash Flows using the indirect method$).$