Can you help me to take a look at my homework? I can not make operating cash flow in direct method equal in indirect method. Is something wrong?

Thank you

Income Statement 2012 (in dollar) Sales Cost of Good Sold Gross Profit Operating Expenses: Operating Income Other Revenues and Expenses Interest Revenue Interest Expense Gain from Sale of Long Term Investment Loss on Sale of Equipment Gain on sale of Land Total Income before Income Taxes Provision for Income Taxes (34%) Net Income $ 2,902,000 (1,662,000) 1,240,000 (968,000) 272,000 20,000 (34,000) 30,000 $ 16,000 288,000 (118,000) 170,000 Instaprint Corporation Comparative Balance Sheet December 31, 2012 and 2011 Assets Current Assets Cash Marketable Securities Account Receivable (Net) Inventories Prepaid Expense Interest Receivable Total Current Assets Land, Building, and Equipment Less Accumulated Depreciation Total Fixed Assets Patents Total Assets Liabilities & Stockholders' Equity Current Liabilities Account Payable Accrued Liabilities Income Tax Payable Short Term Note Payable Unearned Revenue Interest Payable Total Current Liabilities Long-term Debt Total Liabilities Stockholders' Equity Common Stock and Paid-in Capital Retained Earnings Treasury Stock Total Stockholders' Equity Total Liabilities and Equity 2012 Increase 2011 (Decrease) 530,000 606,000 792,000 108,000 2,036,000 1,606,000 (852,000) 754,000 100,000 2,890,000 192,000 578,000 822,000 152,000 1,744,000 1,500,000 (756,000) 744,000 2,488,000 338,000 28,000 (30,000) (44,000) 292,000 106,000 (96,000) 10,000 100,000 402,000 342,000 112,000 146,000 600,000 248,000 848,000 382,000 70,000 200,000 652,000 652,000 (40,000) 42,000 (54,000) (52,000) 248,000 196,000 410,000 1,632,000 2,042,000 2,890,000 310,000 1,526,000 1,836,000 2,488,000 100,000 106,000 206,000 402,000 Additional Information (in Thousands) Depreciation expense during 2012 Common Stock Issued for Equipment Cash paid on Long Term Notes Payable Cash from Sale of Treasury Stock Equipment purchase during the year Cash from Sale of Long Term Investments Proceed from Sale of Equipment Cash Dividends Declared and Paid during the year Bad Debt Expense Adjustment Cash from Sale of Common Stock Land Acquired ten years ago: Initial cost Land Acquired ten years ago: Sold during the year A patent was acquired in exchange of common stock (96,000) (126,000) (64,000) 20,000 50,000 100,000 Cash Flow from Operating Activites Direct Method Cash Received from Customers Cash Received from Interests Cash Paid for Inventory Cash Paid for Operating Expenses Cash Paid for Income Taxes Cash Paid for Interest Net Cash Provided (Used) by Operating Activities $ 2,874,000 20,000 (1,672,000) (786,000) (118,000) (34,000) $ 284,000 Cash Received from Customers Sales Add: Beg Net Account Receivable Less: End Net Account Receivable Less: Bad debt expense adjustment Less: Beg unearned revenue Add: End unearned revenue Cash Received from Interests Interest Revenue Add: Beg Interest Receivable Less: Ending Interest Receivable Cash Paid for Inventory Cost of Good Sold Add:End Inventory Less: Beg Inventory Total Purchase Add: Beg Account Payable Less: End Account Payable ived from Customers Net Account Receivable Net Account Receivable debt expense adjustment unearned revenue unearned revenue Total $ 2,902,000 578,000 (606,000) $ 2,874,000 ived from Interests nterest Receivable ng Interest Receivable Total 20,000 20,000 for Inventory Total Purchase Account Payable Account Payable Total 1,662,000 792,000 (822,000) 1,632,000 382,000 (342,000) $ 1,672,000 Cash Paid for Operating Expenses Operating Expenses Less: Depreciation Expense Less: Beg Prepaid Expense Add: End Prepaids Expense Add: Beg Accrued Liabilities Less: End Accrued Liabilities Less: Bad Debt Adjustment Total 968,000 (96,000) (152,000) 108,000 70,000 (112,000) $ 786,000 Cash Paid for Income Taxes Income Tax Expense Add: Beg Tax Payable Less: End Tax Payable Total 118,000 $ 118,000 Cash Paid for Interest Interest Expense Add: Beg Interest Payable Less: End Interest Payble Total 34,000 $ 34,000 Cash Flow from Operating Activities Indirect Method Net Income Adjustment to Reconcile Net Income to Cash Basis Depreciation Expense Change in Account Receivable Change in Inventory Change in Pre-paid Expense Change in Interest Receivable Change in Account Payable Change in Accrued Liabilities Change in Taxes Payable Change in Short-term Note Payable Change in Unearned Revenue Change in Interest Payable Gain or loss on sale of Long-term Investment Gain or loss in Sale of Equipment Gain or loss on sale of Land Net Cash Provided or Used by Operating Activities $ 170,000 96,000 (28,000) 30,000 44,000 (40,000) 42,000 (54,000) (30,000) The change in Accumulated Dereci Beginning Balance Less: Accumulated Depreciation Di Add: Depreciation Expense Ending Balance The change in Noncash Balance Sh Current Assets Accounts receivable Inventory Prepaid Expenses Interest Receivable 60,000 230,000 Current Liabilities Account Payable Accrued Liabilities Taxes Payable Short-term Note Payble Unearned Revenue Interest Payble ge in Accumulated Dereciation Account umulated Depreciation Disposal eciation Expense 756,000 96,000 $ 852,000 ge in Noncash Balance Sheet Accounts Increase/Decrease (28,000) 30,000 44,000 - m Note Payble The Change in Equipment Account Beginning Balance Purchased with Stock Purchased with Cash Land Sold Ending Balance Gain or Loss on the Sale of the Equipment Proceed on the sale of the equipment Less:Book Value Equipment Cost Accumulated Depreciation - - Gain or Loss on the sale of the Equip (40,000) 42,000 (54,000) - 1,500,000 126,000 (20,000) $ 1,606,000 Gain or Loss on the Sale of the Land Proceed on the sale of the Land Less:Land Cost Gain or Loss on the sale of the Equip $ - 50,000 (20,000) 30,000 The Change in Long-term Investment Account Beginning Balance Sale of Investment 100,000 Ending Balance 100,000 Gain or Loss on Sale of the Long-term Investment Cash from Sale of Long-term Investmen Investment cost Gain or Loss on the Sale - Cash Flow from Investing Activities Cash from Sale of Long-term Investment Cash Received from Sale of Equipment Cash from sale of Land Cash Paid for Purchase of Equipment Net Cash provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds (+) or Payment (-) of Long-term Note Proceeds (+) or Payment (-) for Treasury Stock Payment for Cash Dividends Net Cash Provided (Used) by Financing Activities $ - 50,000 (126,000) $ (76,000) $ 248,000 (64,000) $ 184,000 The Change in Noncash Balance Sheet Ac Non-Current Assets Equipment Patent Liabilities and Stockholders' Equity Long-term Debt Common Stock Retained Earnings Treasury Stock The change in the Note Payable Long-term Beginning Balance Less: Payment the debt Add:Pertaining new debt Ending Balance ge in Noncash Balance Sheet Accounts Increase/Decrease t (106,000) (100,000) and Stockholders' Equity 248,000 100,000 106,000 0 1,500,000 126,000 (20,000) $ 1,606,000 Gain or Loss on the Sale of the Equipment Proceed on the sale of the equipment Less:Book Value Equipment Cost Accumulated Depreciation - - ge in the Note Payable Long-term ment the debt ining new debt The Change in Equipment Account Beginning Balance Purchased with Stock Purchased with Cash Land sold Ending Balance 248,000 $ 248,000 Gain or Loss on the sale of the Eq $ Gain or Loss on the Sale of the Land Proceed on the sale of the Land Less:Land Cost Gain or Loss on the sale of the Eq 50,000 (20,000) 30,000 The Change inPatent Account Beginning Balance Sale of Investment Ending Balance $ 100,000 100,000 Gain or Loss on Sale of the Long-term Investment Cash from Sale of Long-term Investment Investment cost Gain or Loss on the Sale $ The Change in Retained Earning Account Beginning Balance Net Income Dividends Ending Balance - 1,526,000 170,000 (64,000) $ 1,632,000 High Tech Resources Statement of Cash Flows Cash Flow from Operating Activites Direct Method Cash Received from Customers $ 2,874,000 Cash Received from Interests 20,000 Cash Paid for Inventory (1,672,000) Cash Paid for Operating Expenses (786,000) Cash Paid for Income Taxes (118,000) Cash Paid for Interest (34,000) Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Cash from Sale of Long-term Investment Cash Received from Sale of Equipment Cash Paid for Purchase of Equipment (126,000) Net Cash provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds (+) or Payment (-) of Long-term Note 248,000 Proceeds (+) or Payment (-) for Treasury Stock Payment for Cash Dividends (64,000) Net Cash Provided (Used) by Financing Activities Net increae in cash Beginning Cash Ending Cash 284,000 (76,000) 184,000 392,000 192,000 $ 584,000 High Tech Resources Statement of Cash Flows Cash Flow from Operating Activities Indirect Method Net Income $ 170,000 Adjustment to Reconcile Net Income to Cash Basis Depreciation Expense 96,000 Change in Account Receivable (28,000) Change in Inventory 30,000 Change in Pre-paid Expense 44,000 Change in Interest Receivable Change in Account Payable (40,000) Change in Accrued Liabilities 42,000 Change in Taxes Payable Change in Short-term Note Payable (54,000) Change in Unearned Revenue Change in Interest Payable Gain or loss on sale of Long-term Investmen Gain or loss in Sale of Equipment 90,000 Net Cash Provided or Used by Operating Activities 260,000 Cash Flow from Investing Activities Cash from Sale of Long-term Investment Cash Received from Sale of Equipment Cash Paid for Purchase of Equipment (126,000) Net Cash provided (Used) by Investing Activities (126,000) Cash Flow from Financing Activities Proceeds (+) or Payment (-) of Long-term Note 248,000 Proceeds (+) or Payment (-) for Treasury Stock Payment for Cash Dividends (64,000) Net Cash Provided (Used) by Financing Activities 184,000 Net increae in cash Beginning Cash Ending Cash $ 318,000 192,000 510,000