Financial data of Fancy Footwork Company for 2013 and 2012 are presented below.

FANCY FOOTWORK COMPANY
INCOME STATEMENT
For the year ended Dec 31, 2013
Sales.................... 750000
Cost of Goods Sold.............. 530000
Gross Margin .............. 220000
Selling and administrative expenses.....106000
Income from Operations..........114000
Other revenues and gains
Gain on sale of investments........7000
Income before tax.............121000
Income tax expense ...........48400
Net Income...............72600
Additional information:
During the year, $9000 of common stock was issued in exchange for plant assets. No plant assets were sold in 2012. Cash dividends were $32500.

Required:
A. Prepare a statement of cash flows using the indirect method
B. Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliationschedule.

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FANCY FOOTWORK COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31,2013 AND 2012 2013 2012 Cash Receivables Inventory Plant assets Accumulated depreciation S 260,000.00 S 230,000 S 156,000 S120,000 S 180,000 S 220,000 S 160,000 S 135,000 S (80,000) S (76,000) Long-tem investments held-to-maturity S 80.000 S 93.000 S 756,000 S 722,000 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings S 135,000 S 122,000 S 30,000 S33,100 S 135,000 S 166,000 S 180,000 S165,000 S 276,000 S 235,900 S 756.000 S 722.000