Refer to the information for Solpoder Corporation. Required: 1.Prepare a statement of cash flows using the direct method.

                                                       Solpoder corporation

                                                 Comparative Balance Sheets

                                                 At December 31, 2015 and 2016

	2015	2016
Assets
Cash	$49,500	$81,000
Accounts receivable, net	135,000	108,000
Inventory	27,000	54,000
Plant and equipment	180,000	180,000
Accumulated depreciation	(36,000)	(45,000)
Total Assets	$355,500	$378,000
Liabilities and equity
Accounts payable	$57,600	$18,000
Common stock	190,800	207,000
Retained earnings	107,100	153,000
Total liabilities and equity	$355,500	$378,000

           Solpoder Corporation

              Income Statement

  For the Year Ended December 31, 2016

Sales                                                          $297,000

Less: Cost of goods sold                         (175,500)

      Gross margin                                      $121,500

Less: Operating expenses                         (58,500)

      Net Income                                            $63,000