Comparative balance sheet accounts of Marcus Inc. are presented below. MARCUS INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2014 AND 2013 December 31 Debit Accounts 2014 2013 Cash $41,890 $33,350 Accounts Receivable 70,340 59,940 Inventory 29,970 24,840 Investments (available-for-sale) 21,920 38,490 Machinery 30,010 18,790 Buildings 67,490 55,990 Land 7,330 7,330 $268,950 $238,730 Credit Accounts Allowance for Doubtful Accounts $2,780 $1,400 Accumulated DepreciationMachinery 5,830 2,050 Accumulated DepreciationBuildings 14,090 8,180 Accounts Payable 35,400 24,740 Accrued Payables 3,101 2,669 Long-Term Notes Payable 20,540 31,150 Common Stock, no-par 150,200 125,000 Retained Earnings 37,009 43,541 $268,950 $238,730 Additional data (ignoring taxes): 1. Net income for the year was $39,418. 2. Cash dividends declared and paid during the year were $20,750. 3. A 20% stock dividend was declared during the year. $25,200 of retained earnings was capitalized. 4. Investments that cost $24,830 were sold during the year for $28,050. 5. Machinery that cost $3,940, on which $741 of depreciation had accumulated, was sold for $2,321. Marcuss 2014 income statement follows (ignoring taxes). Sales revenue $536,556 Less: Cost of goods sold 379,440 Gross margin 157,116 Less: Operating expenses (includes $10,431 depreciation and $5,030 bad debts) 120,040 Income from operations 37,076 Other: Gain on sale of investments $3,220 Loss on sale of machinery (878 ) 2,342 Net income $39,418 (a) Compute net cash flow from operating activities using 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).) ALEXANDER CORPORATION Statement of Cash Flows For the Year Ended December 31, 2014 (Indirect Method) $ Adjustments to reconcile net income to $ $ LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER