hi, im having trouble solving this problem from the book fundementwl of accounting chapter 16, problem 16.6B thank you.

16.6B Triple Flip Inc., a sporting goods retailer, recently completed its 2017 operations. Triple Flip Inc.'s balance sheet information and income statement follow. Triple Flip Inc. Income Statement For Year Ended December 31, 2017 1,061,340 573,300 488,040 Sales Cost of goods sold Gross pront..... Operating expenses Depreciation expense... 35,868 Other expenses....... 384.993 Total operating expenses... Profit from operations Loss on sale of equipment... Profit before Tapes...... Income taxes..... Profit 420,861 67,179 2,058 65,121 9,261 55,860 Click here for a description of Table: Problem 16-5B; Income Statement. Triple Flip Inc. Comparative Balance Sheet Information Cash... Accounts receivable Merchandise inventory. Prepaid expenses Equipment......... Accumulated depreciation Accounts payable Current notes payable. Notes payable Common shares Retained earnings..... December 31 2017 2016 $133,770 $ 70,119 72,618 88,935 445,410 480,396 16,758 18,816 272,685 211.680 106,575 91.140 115,101 120,981 16,905 11,025 110,250 80,850 473,340 441,000 119,070 124,950 Click here for a description of Table: Problem 16-5B; Balance Sheet Additional information regarding Triple Flip Inc.'s activities during 2017: 1. Loss on sale of equipment is $2,058. 2. Equipment costing $49,980 is sold for $27,489. 3. Equipment is purchased by paying cash of $37,485 and signing a long-term note payable for the balance 4. Page 1044 5. Borrowed $5,880 by signing a short-term note payable. 6. Reduced a long-term note payable by making a payment. 7. Issued 2,940 common shares for cash at $11 per share. 8. Declared and paid cash dividends. Required Prepare a statement of cash flows for 2017 that reports the cash inflows and outflows from operating activities according to the indirect method. Show your supporting calculations. Also prepare a note describing non-cash investing and financing activities. Analysis Component:Using the information from the statement of cash flows just prepared for Triple Flip Inc., identify the accrual basis profit and the cash basis profit for 2017. Explain why there is a difference between the two amounts. Problem 16-6B Preparing the statement of cash flows (direct method) LOZ CHECK FIGURE: Net cash outflow from financing activities - $67,620 RequiredRefer to the information in Problem 16-5B. Prepare a statement of cash flows for 2017 using the direct method to report cash inflows and outflows from operating activities. Other information: a. All sales were credit sales. b. All credits to accounts receivable in the period were receipts from customers. c. Purchases of merchandise were on credit d. All debits to accounts payable in the period resulted from payments for merchandise. e. The other expenses were paid in advance and were initially debited to Prepaid Expenses