Comparative balance sheet accounts of Bridgeport Company are presented below. Additional data: 1. Equipment that cost $9,900 and was 60% depreciated was sold in 2020. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. 4. Investments that cost $34,700 were sold during the year. 5. There were no write-offs of uncollectible accounts during the year. Bridgeport's 2020 income statement is as follows. Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses (includes depreciation expense and bad debt expense) Income from operations $951,500599,500352,000250,900101,100 Other revenues and expenses Gain on sale of investments Loss on sale of equipment Income before taxes (a) Compute net cash provided by operating activities under the direct method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net cash flow from operating activities $ (b) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) BRIDGEPORT COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to ^ $ $ Comparative balance sheet accounts of Bridgeport Company are presented below. Additional data: 1. Equipment that cost $9,900 and was 60% depreciated was sold in 2020. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. 4. Investments that cost $34,700 were sold during the year. 5. There were no write-offs of uncollectible accounts during the year. Bridgeport's 2020 income statement is as follows. Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses (includes depreciation expense and bad debt expense) Income from operations $951,500599,500352,000250,900101,100 Other revenues and expenses Gain on sale of investments Loss on sale of equipment Income before taxes (a) Compute net cash provided by operating activities under the direct method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net cash flow from operating activities $ (b) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) BRIDGEPORT COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to ^ $ $