2. Using the direct method, prepare the statement of cash flows for the year ending December 31, 2017., for your company (a clothing retailer). Make sure to include completeness and all three categories of activities: (1point)

Operating: purchase of clothes -$5,000, sale of clothes for cash $6,500, payment of salaries to sales people -$3,000

Investing: purchase of furniture and fixtures -$10,000, sale of old furniture $3,000, renovation of clothing store -$25,000

Financing: borrowing loan from bank $100,000, repayment of installments of loan -$2,000, payment of interest on loan -$1,000

Statement of Cash Flows

Year Ended December 31, 2017

Cash flows From Operating Activities:
	$
Net cash provided by operating activities	$??????
Cash flows from investing activities:
Proceeds from sale of equipment	$
Purchase of equipment
Net cash used by investing activities
Cash flows from financing activities:
Dividends paid
Bonds payable paid
Sale of common stock
Net cash provided by financing activities
Decrease in cash