3 1 DO The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contrast Accounts bilities and stockholders' Equity Accounts $ 230 Accounts payable 5711 Accounts receivable $ 271 Accrued liabilities $ 270 Inventory $ 640 Income taxes payable $ 21 Prepaid expenses $. 221 Bonds payable 52281 Long term investments $240 Common stock $100 Property, plant, and equipment 3 LOT Retained earnings 5911 Necumulated depreciation 5911 D=Decrease; Increase Long-term Investments that cost the company $24 were sold during the year for $52 and land that cost $51 was sold for $27. In addition, the company declared and paid $21 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock The company's income statement for the year follows: Seferences $1,110 022 450 Sales cost of boods sold Gross war Selling and strative pense teatinine operating its Losoncale of in one of Invesents hefore taxe Test Net (24) 176 512 450 172 $ (24) 28 4 Selling and administrative expenses Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income 176 64 $ 112 ok int The company's beginning cash balance was $134 and its ending balance was $111. Required: 1. Use the indirect method to determine the net cash provided by operating activities for the year 2. Prepare a statement of cash flows for the year. int erences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Pavolik Company Statement of Cash Flows Operating activities Investing activities YULU 14 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as Pavolik Company Statement of Cash Flows Operating activities Investing activities eces 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0