Question: Question 6 (25 marks) Given the following information for Cat Castle Incorporated prepare their statement cash flows for December 31, 2017 using the indirect method.

Question 6 (25 marks) Given the following information for Cat Castle

Incorporated prepare their statement cash flows for December 31, 2017 using the

Question 6 (25 marks) Given the following information for Cat Castle Incorporated prepare their statement cash flows for December 31, 2017 using the indirect method. Also, Explain the process preparing Indirect Cashflow and specify the differences with respect to ASPE and IFRS standards between Indirect and Direct Cashflow methods. 2017+2016+ I Cash375250 Accounts receivable8575 Interest receivable56 Inventory8095 Prepaid Expenses4810 Non-current - Note receivable90125 Property, plant and Equipment325330 (net of depreciation) Accounts payable3320 Accrued liabilities4556 Common Shares825755 Retained Earnings10560 Net income50 2017*** Cash375250 Accounts receivable8575 Interest receivable56 Inventory8095 Prepaid Expenses4810 Non-current - Note receivable90125 Property, plant and Equipment325330 (net of depreciation) Accounts payable 3320 Accrued liabilities4556 Common Shares825755 Retained Earningsi0560 Net income50 Depreciation expense? Gain on sale of property1.5 in 0005 Caterloo a

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