Avalos Corporation is preparing its annual financial statements at December 31 of the current year. Listed here are the items on its statement of cash flows presented in alphabetical order. Parentheses indicate that a listed amount should be subtracted on the cash flow statement. The beginning balance in cash was $32,000 and the ending balance was $61,000. Cash borrowed on three-year note Decrease in accounts payable Decrease in inventory Increase in accounts receivable Land purchased Net income New delivery truck purchased for cash Stock issued for cash $ 26,000 (3,900) 2,100 (8,500) (37,000) 30,000 (7,700) 28,000 Required: Prepare the current year statement of cash flows for Avalos Corporation. (Cash outflows should be indicated by a minus sign.) AVALOS CORPORATION Statement of Cash Flows From operating activities Net income Decrease in inventory Increase in accounts receivable Decrease in accounts payable $ 30,000 2,100 (8,500)| (3,900) $ 19,700 From investing activities Purchased land (37,000) (7,700) Purchased delivery truck (44,700) From financing activities Borrowed cash on three-year note Issued stock for cash 26,000 28,000 54,000 Net cash inflows for the year Beginning cash balance Ending cash balance $ 0