A summary of cash flows for Linda's Design Services for the year ended December $31$ follows:

Line Item Description Amount

Cash receipts:

Cash received from customers $$80,800$

Cash received from sale of stock $20,200$

Cash payments:

Cash paid for expenses $$27,900$

Cash paid for land $46,000$

Cash paid for supplies $480$

Dividends $4,500$

Cash balance as of January $1$ $$40,500$

Prepare a statement of cash flows for Linda's Design Services for the year ended December $31.$ Use the minus sign to indicate cash out flows, a decrease in cash or cash payments.

Linda's Design Services

Statement of Cash Flows

For the Year Ended December $31$

Line Item Description Amount Amount

Cash flows from $($used for$)$ operating activities:

$$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

Cash flows from $($used for$)$ investing activities:

$-$ Select $-$

Cash flows from $($used for$)$ financing activities:

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

Cash balance, January $1$ Cash balance, January $1$

Cash balance, December $31$ $Cash balance, December $31$