Comparative balance sheets and the income statements for Ellis Corporation are presented below:

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$	49,500		$	32,400
Accounts receivable		38,800			41,200
Inventory		71,000			64,200
Total current assets		159,300			137,800
Long-term investments		175,000			214,000
Property, plant, and equipment		294,700			165,000
Less accumulated depreciation		56,200			52,000
Total assets	$	572,800		$	464,800
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	36,700		$	41,600
Accrued liabilities		25,200			31,800
Income taxes payable		15,300			21,000
Total current liabilities		77,200			94,400
Bonds payable		127,200			31,500
Total liabilities		204,400			125,900
Stockholders equity:
Common stock		309,800			280,800
Retained earnings		58,600			58,100
Total stockholders' equity		368,400			338,900
Total liabilities and stockholders' equity	$	572,800		$	464,800

Income Statement
Sales	$	156,000
Cost of goods sold		79,600
Gross margin		76,400
Selling and administrative expense		17,600
Net operating income		58,800
Loss on sale of investment		2,500
Income before taxes		56,300
Income taxes		22,700
Net income	$	33,600

The following additional information is available for the year:

* During the year, the company sold long-term investments for $36,500 that had been purchased for $39,000.

* The company did not sell any property, plant, and equipment during the year or repurchase any of its own common stock.

* All sales were on credit.

* The company paid a cash dividend of $33,100.

* The company paid cash to retire $15,600 of bonds payable.

Required:

a. Using the indirect method, determine the net cash provided by (used in) operating activities.

b. Using the direct method, determine the net cash provided by (used in) operating activities.

c. Using the net cash provided by (used in) operating activities amount from either part a or b, prepare a statement of cash flows.