Hartman, Inc. has prepared the following comparative balance sheets for 2016 and 2017: HARTMAN, INC COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 2017 2016 Cash $ 70,000 $ 51,000 Accounts Receivable 155,000 130,000 Inventory 75,000 61,000 Investments (Available-for-sale) 55,000 85,000 Equipinent 70,000 48,000 Buildings 145,000 145,000 Land 40,000 25,000 Totals $610,000 $545,000 Allowance for Doubtful Accounts Accumulated Depreciation Equipment Accumulated Depreciation Buildings Accounts Payable Income Taxes Payable Long-Term Notes Payable Common Stock Retained Earnings Total $ 10,000 21,000 37,000 66,000 12,000 62,000 310,000 92,000 $610,000 $ 8,000 14,000 28,000 60,000 10,000 70,000 260,000 95,000 $545,000 Additional data: 1. Equipment that cost $10,000 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 $35,000 were sold during the year. 5. There were no write-offs of uncollectible accounts during the year. Hartman, Inc 2017 income statement is as follows. Sales Less: Cost of goods sold 600,000 Gross profit Less: Operating expenses (includes depreciation expense and bad debt expense) Income from operations $950,000 600,000 350,000 250,000 100,000 Other revenues and expenses Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $15,000 (3,000) 12,000 112,000 45,000 $ 67,000 Instructions a. Compute net cash provided by operating activities under the direct method. b. Using the indirect method, calculate only the net cash flow from operating activities for Hartman, Inc., for the year ended May 31, 2017