Comparative balance sheets and an income statement for 2008 are presented below for Nroklesah Company.

Comparative balance sheets and an income statement for 2008 are presented below for Nroklesah Company.Comparative Balance Sheets and Income StatementFor the Years 2007 and 2008BALANCE SHEETSASSETS Year2007185290(25)135500250(80)1,255Liabilities & Owners’ EquityLIABILITIES305674746100(10)555Owners’ Equity5002007001,255INCOME STATEMENT (2008)750= 450Operating expenses20030201026019040230 69Net income after tax…………. 161Additional information1. There were no write-offs of delinquent accounts during the year.2. A building was sold during the year for $80.Required:Prepare a cash flow statement for 2008 with clear documentation(i.e., show your work) for each section of the statement. Use both the direct and indirect method.For the most recent year (2008)calculate the following ratios.1. Current ratio2. Inventory turnover3. Rate of return on total assets4. Accounts receivable turnover (assume all sales are onaccount)5. Debt ratio.

Nroklesah Company Nroklesah Company Cash Flow Statement (Indirect method) Cash Flow Statement (Direct method) for the year ending December 31, 2008Particluars Cash from Operating Activities Net…

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