The Nike Companys 2013 and 2014 balance sheets included the following items:

	December 31
	2014	2013
Debits
Cash	$10,500	$ 4,000
Accounts receivable.............................................................................	8,000	9,000
Merchandise inventory........................................................................	21,000	18,000
Equipment..........................................................................................	18,000	15,000
Totals....................................................................................	$57,500	$46,000
Credits
Accumulated depreciation, equipment...................................................	$ 4,000	$ 3,000
Accounts payable................................................................................	7,000	5,000
Taxes payable.....................................................................................	1,000	2,000
Common stock, $10 par value.............................................................	27,000	25,000
Contributed capital in excess of par, common stock.................................	6,000	5,000
Retained earnings...............................................................................	12,500	6,000
Totals....................................................................................	$57,500	$46,000

The Nike Companys income statement was as follows:

NIKE COMPANY Income Statement For the Year Ended December 31, 2014
Sales .............................................................................................		$61,000
Cost of goods sold...............................................................................	$40,000
Wages and other operating expenses....................................................	6,300
Income taxes expense.........................................................................	4,200
Depreciation expense..........................................................................	1,500	52,000
Net income........................................................................................		$ 9,000

Required:

Prepare the statement of cash flows under both the direct method and the indirect method for the year ended December 31, 2014. Additional information includes the following:

1. Equipment costing $3,500 was purchased during the year.
2. Fully depreciated equipment that cost $500 was discarded and its cost and accumulated depreciation were removed from the accounts.
3. 200 shares of stock were sold and issued at $15 per share.
4. The company paid $2,500 of cash dividends