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

	Ending Balance	Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$ 45,000	$ 30,000
Accounts receivable	38,000	40,000
Inventory	67,000	60,000
Total current assets	150,000	130,000
Long-term investments	162,000	200,000
Property, plant and equipment	278,000	150,000
Less accumulated depreciation	52,000	50,000
Total assets	$ 538,000	$ 430,000
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$ 36,000	$ 40,000
Accrued liabilities	24,000	30,000
Income taxes payable	15,000	20,000
Total current liabilities	75,000	90,000
Bonds payable	120,000	30,000
Total liabilities	195,000	120,000
Stockholders equity:
Common stock	295,000	270,000
Retained earnings	48,000	40,000
Total stockholders equity	343,000	310,000
Total liabilities and stockholders' equity	$ 538,000	$ 430,000
Income Statement
Sales	$ 150,000
Cost of goods sold	76,500
Gross margin	73,500
Selling and administrative expense	16,000
Net operating income	57,500
Loss on sale of investment	2,500
Income before taxes	55,000
Income taxes	22,000
Net income	$ 33,000

The following additional information is available for the year: * During the year, the company sold long-term investments for $35,500 that had been purchased for $38,000. * 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 $25,000. * The company paid cash to retire $15,000 of bonds payable.

Required: a. Using the indirect method, determine the net cash provided by (used in) operating activities. b. Prepare a statement of cash flows.