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 2014.
  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 2014 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 indirect method.