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Comparative balance sheet accounts of Sharpe Company are presented below.

SHARPE COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31
Debit Balances		2020		2019
Cash		$70,000		$51,000
Accounts Receivable		155,000		130,000
Inventory		75,000		61,000
Debt investments (available-for-sale)		55,000		85,000
Equipment		70,000		48,000
Buildings		145,000		145,000
Land		40,000		25,000
Totals		$610,000		$545,000
Credit Balances
Allowance for Doubtful Accounts		$10,000		$8,000
Accumulated DepreciationEquipment		21,000		14,000
Accumulated DepreciationBuildings		37,000		28,000
Accounts Payable		66,000		60,000
Income Taxes Payable		12,000		10,000
Long-Term Notes Payable		62,000		70,000
Common Stock		310,000		260,000
Retained Earnings		92,000		95,000
Totals		$610,000		$545,000

Additional data:

1.		Equipment that cost $10,000 and was 60% depreciated was sold in 2020.
2.		Cash dividends were declared and paid during the year.
3.		Common stock was issued in exchange for land.
4.		Investments that cost $35,000 were sold during the year.
5.		There were no write-offs of uncollectible accounts during the year.

Sharpes 2020 income statement is as follows.

Sales revenue					$950,000
Less: Cost of goods sold					600,000
Gross profit					350,000
Less: Operating expenses (includes depreciation expense and bad debt expense)					250,000
Income from operations					100,000
Other revenues and expenses
Gain on sale of investments		$15,000
Loss on sale of equipment		(3,000	)		12,000
Income before taxes					112,000
Income taxes					45,000
Net income					$67,000

(a) Compute net cash provided by operating activities under the direct method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Net cash flow from operating activities

$

(b) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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