The accounting staff of Tom and Jerry Clubhouse Ltd, assembled the following information for the year ended 31 December 2017:
Cash 1.1.2017 - $38,600
Cash 31.12.2017 - $57,600
Acquisition of plant assets - $19,000
Short term loans received - $10,000
Loans granted - $5,000
Loan repayments received - $4,000
Interest and dividends received - $12,000
Cash sales - $815,000
Proceeds from disposal of plant assets - $7,000
Dividends paid - $80,000
Cash paid to suppliers - $635,000
Interest paid - $19,000
Corporation tax paid - $71,000
Prepare a Statement of Cash Flows, using either direct or indirect method (explain your choice).