#128 Comparative balance sheets and the income statements for Ellis Corporation are presented below:

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$	47,700		$	30,600
Accounts receivable		39,100			43,200
Inventory		72,400			63,600
Total current assets		159,200			137,400
Long-term investments		166,900			214,000
Property, plant, and equipment		297,500			156,000
Less accumulated depreciation		54,100			53,500
Total assets	$	569,500		$	453,900
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	38,900		$	41,600
Accrued liabilities		25,200			31,200
Income taxes payable		15,900			21,000
Total current liabilities		80,000			93,800
Bonds payable		130,800			33,000
Total liabilities		210,800			126,800
Stockholders equity:
Common stock		318,600			280,800
Retained earnings		40,100			46,300
Total stockholders' equity		358,700			327,100
Total liabilities and stockholders' equity	$	569,500		$	453,900

Income Statement
Sales	$	156,000
Cost of goods sold		81,100
Gross margin		74,900
Selling and administrative expense		17,400
Net operating income		57,500
Loss on sale of investment		2,500
Income before taxes		55,000
Income taxes		24,200
Net income	$	30,800

The following additional information is available for the year:

* During the year, the company sold long-term investments for $44,600 that had been purchased for $47,100.

* The company did not sell any property, plant, and equipment during the year or repurchase any of its own common stock.

* All sales were on credit.

* The company paid a cash dividend of $37,000.

* The company paid cash to retire $15,900 of bonds payable.

Required:

a. Using the indirect method, determine the net cash provided by (used in) operating activities.

b. Using the direct method, determine the net cash provided by (used in) operating activities.

c. Using the net cash provided by (used in) operating activities amount from either part a or b, prepare a statement of cash flows.