Statement of cash flows (direct and indirect methods). Hartman, Inc. has prepared the following comparative balance sheets for 2010 and 2011:

. Statement of cash flows (direct and indirect methods).Hartman, Inc. has prepared the following comparative balance sheets for 2010 and 2011:2011 2010Cash $ 297,000 $ 153,000Receivables 159,000 117,000Inventory 150,000 180,000Prepaid expenses 18,000 27,000Plant assets 1,260,000 1,050,000Accumulated depreciation (450,000) (375,000)Patent 153,000 174,000$1,587,000 $1,326,000Accounts payable $ 153,000 $ 168,000Accrued liabilities 60,000 42,000Mortgage payable — 450,000Preferred stock 525,000 —Additional paid-in capital—preferred 120,000 —Common stock 600,000 600,000Retained earnings 129,000 66,000$1,587,000 $1,326,0001. The Accumulated Depreciation account has been credited only for the depreciation expense for the period.2. The Retained Earnings account has been charged for dividends of $138,000 and credited for the net income for the year.The income statement for 2011 is as follows:Sales $1,980,000Cost of sales 1,089,000Gross profit 891,000Operating expenses 690,000Net income $ 201,000Instructions(a) From the information above, prepare a statement of cash flows (indirect method) for Hartman, Inc. for the year ended December 31, 2011.(b) From the information above, prepare a schedule of cash provided by operating activities using the direct method.If you want the formulas and any calculations, select the corresponding cell and press F2(Function Key on key board),It will show all calculations and formulas AutomaticallyQuestion:Statement of…

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