Comparative balance sheet accounts of Windsor Company are presented below. WINDSOR COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances 2017 Cash $70,600 Accounts Receivable 153,800 Inventory 74,400 Debt investments (available-for-sale) 55,200 Equipment 70,400 Buildings 144,900 Land 39,900 Totals $609,200 2016 $51,400 131,200 61,400 84,600 48,100 144,900 25,000 $546,600 Credit Balances Allowance for Doubtful Accounts Accumulated Depreciation Equipment Accumulated Depreciation-Buildings Accounts Payable Income Taxes Payable Long-Term Notes Payable Common Stock Retained Earnings Totals $10,000 20,800 37,000 65,900 12,100 62,000 310,000 91,400 $609,200 $7,900 14,200 27,700 59,900 10,000 70,000 260,000 96,900 $546,600 Additional data: 1. Equipment that cost $9,900 and was 60% depreciated was sold in 2017. 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. Windsor's 2017 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 $946,800 599,200 347,600 250,300 97,300 Windsor's 2017 income statement is as follows. $946,800 599,200 347,600 250,300 97,300 Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses (includes depreciation expense and bad debt expense) Income from operations Other revenues and expenses Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $14,800 (3,000) 11,800 109,100 44,700 $64,400 (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).) WINDSOR COMPANY Statement of Cash Flows Adjustments to reconcile net income to WINDSOR COMPANY Statement of Cash Flows Adjustments to reconcile net income to