Comparative balance sheet accounts of Sharpe Company are presented below.

Additional data:1. Equipment that cost $10,000 and was 60% depreciated was sold in 2012.2. 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.Sharpe's 2012 income statement is as follows.

Instructions(a) Compute net cash provided by operating activities under the direct method.(b) Prepare a statement of cash flows using the indirectmethod.

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SHARPE COMPANY COMPARATIVE BALANCE SHEET AccouUNTS As OF DECEMBER 31 Debit Balances 2012 2011 $ 70,000 $ 51,000 130,000 61,000 85,000 48,000 145,000 25,000 Cash Accounts Receivable Inventory Investments (Available-for-sale) Equipment Buildings Land 155,000 75,000 55,000 70,000 145,000 40,000 Totals $610,000 $545,000 Credit Balances $ 10,000 $ 8,000 Allowance for Doubtful Accounts Accumulated Depreciation-Equipment Accumulated Depreciation-Buildings Accounts Payable Income Taxes Payable Long-Term Notes Payable Common Stock 21,000 14,000 28,000 37,000 66,000 12,000 60,000 10,000 70,000 260,000 62,000 310,000 92,000 Retained Earnings 95,000 Totals $610,000 $545,000