Hello - please assist with problem. I have attached the problem with directions.

P238. (SCFDirect and Indirect Methods) 3 6 8 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 writeoffs of uncollectible accounts during the year. Sharpe's 2014 income statement is as follows. Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses (includes depreciation expense and bad debt expense) $950,000 600,000 350,000 250,000 Income from operations Other revenues and expenses Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income Instructions (a) Compute net cash provided by operating activities under the direct method. (b) Prepare a statement of cash flows using the indirect method. 100,000 $15,00 0 (3,000) 12,000 112,000 45,000 $67,000