The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended

December $31,2024,$ appears below:

The following balance sheet information also is available:

In addition, the following transactions took place during the year:

Common stock was issued for $$100,000$ in cash.

Long$-$term investments were sold for $$50,000$ in cash. The original cost of the investments also was $$50,000.$

$$80,000$ in cash dividends was paid to shareholders.

The company has no outstanding debt, other than those payables listed above.

Operating expenses include $$30,000$ in depreciation expense.

Required:

Prepare a statement of cash flows for $2024$ for the Diversified Portfolio Corporation. Use the direct method for reporting

operating activities.

Prepare the cash flows from operating activities section of Diversified's $2024$ statement of cash flows using the indirect method.

Complete this question by entering your answers in the tabs below.

Required $1$

Prepare a statement of cash flows for $2024$ for the Diversified Portfolio Corporation. Use the direct method for reporting

operating activities.

Note: Amounts to be deducted should be indicated with a minus sign.