Using the information below for ABC Pty Ltd , how to get the statement of cash flows for the year 2017 using the direct format.

Briefly provide an interpretation of the statement of cash flows

ABC Pty Ltd Income statement for the year ended 31 December 2017 Sales revenue $ 540,350 Cost of Goods Sold (387.140) Gross profit 153,210 Expenses: Wages 58,400 Utilities 5,600 Insurance 4,800 Ren 12,000 Depreciation 14,200 Interest 980 Supplies 10,800 106,780 Profit before tax 46,430 Income tax expense 13,929 Profit for the period $ 32,501 ABC Pty Ltd Balance sheet at 31 December 2017 2017 2016 2017 2016 Current assets Current liabilities Cash $ 4,271 $ 4 250 Accounts payable 68,240 84,200 Accounts receivable 126,820 120,340 Wages Payable 12,380 Merchandise inventory 104,240 122,840 Interest payable 980 Supplies 4,890 3,450 Loans payable (current)_10,000 10,000 Prepaid rent 12,000 12,000 79,220 106,580 252,221 262,880 Non-current liabilities Non-current assets Loans payable 150,000 150,000 Property and eq., at cost 384,970 384,970 Accumulated depreciation (76,600) (62,400) Equity 308 370 322,570 Share capital 200,000 200,000 Retained earnings 131 371 128 870 Total equity 331,371 328,870 Total assets $ 560,591 $ 585,450 Total Liab. and Equity $ 560,591 $ 560,591ABC Pty Ltd Statement of Cash Flows For the year ended 31 December 2017