The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended December 31, 2013, appears below: Service revenue $ 1,040,000 Operating expenses 770,000 Income before income taxes 270,000 Income tax expense 54,000 Net income $ 216,000 The following balance sheet information also is available: 12/31/13 12/31/12 Cash $ 392,000 $ 77,000 Accounts receivable 134,000 107,000 Accounts payable (operating expenses) 84,000 67,000 Income taxes payable 17,000 29,000 In addition, the following transactions took place during the year: 1. Common stock was issued for $114,000 in cash. 2. Long-term investments were sold for $57,000 in cash. The original cost of the investments also was $57,000. 3. $87,000 in cash dividends was paid to shareholders. 4. The company has no outstanding debt, other than those payables listed above. 5. Operating expenses include $37,000 in depreciation expense. Required: 1. Prepare a statement of cash flows for 2013 for the Diversified Portfolio Corporation. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign) 2. Prepare the cash flows from operating activities section of Diversifieds 2013 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign)