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

Comparative Balance SheetEnding BalanceBeginning BalanceAssets:Current assets:Cash and cash equivalents$48,200$33,000Accounts receivable41,80042,800Inventory68,30062,400Total current assets158,300138,200Long-term investments171,700204,000Property, plant, and equipment294,700160,500Less accumulated depreciation53,60052,000Total assets$571,100$450,700Liabilities and stockholders' equity:Current liabilities:Accounts payable$39,200$44,000Accrued liabilities24,50031,200Income taxes payable15,50020,600Total current liabilities79,20095,800Bonds payable127,20031,500Total liabilities206,400127,300Stockholders' equity:Common stock309,800278,100Retained earnings54,90045,300Total stockholders' equity364,700323,400Total liabilities and stockholders' equity$571,100$450,700

Income StatementSales$156,000Cost of goods sold81,900Gross margin74,100Selling and administrative expense17,000Net operating income57,100Loss on sale of investment2,500Income before taxes54,600Income taxes23,500Net income$31,100

The following additional information is available for the year:

* During the year, the company sold long-term investments for $29,800 that had been purchased for $32,300.

* 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 $21,500.

* 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 statement of cash flows.