A comparative balance sheet and income statement for Groton Company follow:

Groton Company Comparative Balance Sheet December 31, 2011 and 2010
	2011		2010
Assets
Cash	$	2	$	13
Accounts receivable		361		267
Inventory		196		253
Prepaid expenses		46		44
Total current assets		605		577
Property, plant, and equipment		547		468
Less accumulated depreciation		(88)		(74)
Net property, plant, and equipment		459		394
Long-term investments		29		34
Total assets	$	1,093	$	1,005
Liabilities and Stockholders' equity
Accounts payable	$	320	$	244
Accrued liabilities		89		99
Income taxes payable		74		65
Total current liabilities		483		408
Bonds payable		236		210
Total liabilities		719		618
Common stock		201		240
Retained earnings		173		147
Total stockholders equity		374		387
Total liabilities and stockholders' equity	$	1,093	$	1,005

Groton Company Income Statement For the Year Ended December 31, 2011
Sales			$	726
Cost of goods sold				451
Gross margin				275
Selling and administrative expenses				184
Net operating income				91
Non operating items:
Gain on sale of investments	$	6
Loss on sale of equipment		(3)		3
Income before taxes				94
Income taxes				29
Net income			$	65

During 2011, Groton sold some equipment for $36 that had cost $49 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $11 that had cost $5 when purchased several years ago. A cash dividend was paid during 2011 and the company repurchased $39 of its own stock. Groton did not retire any bonds during 2011.

Required:
1.	Using the indirect method, determine the net cash provided by/used by operating activities for 2011. (Negative amount should be entered with a minus sign.)

2.	Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2011. (Amounts to be deducted and negative amounts should be indicated with a minus sign.)