Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

A. The investments were sold for $175,000 cash.

B. Equipment and land were acquired for cash.

C. There were no disposals of equipment during the year.

D. The common stock was issued for cash.

E. There was a $500,000 credit to Retained Earnings for net income.

F. There was a $90,000 debit to Retained Earnings for cash dividends declared.

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.

Instructions The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as fallaws Dec. 31, 20Y3 Dec. 31, 20Y2 Assets 155000$150,000.00 000.00400,000.00 750,000.00 000 100,000.00 0.00 1400,000.00 1200,000.00 600,00000)500,00000) 2,675,000.00 2,100,000.00 Cash Accounts receivable net) 5 Imventories 70,00000 Investments 7 Land 500,000.00 Equipment Accumulated depreciation-equipment 101 Total assets Llabilitles and Stockholders Equity Accounts payable 13 | Accrued expenses payable I Dividends payable s Common stock, $4 pa taj Paid-in capital: Excess of issue price over par-common stock 45,000.00 50,00000 70000 00,00.00 000000 500000 00 $00,000.00 50,000.00 25,000.00 Retained eamincS 360,000.00 950,000.00 Total liabilities and stockholders' equity 2,675,000.00 $2,100,000.00