BCD NAVARIA INC Statement of Cash Flows For the Year Ended December 31, 20Y3 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Changes in current operating assets and liabilities Net cash flow from operating activities Cash flows from (used for) investing activities Net cash flow used for investing activities Cush fiows from (used for fnansing activiles: Not cash flow from financing activitios Increase (decrease) in cash Cash at the beginning of the year Cash at the end of the year A B C D For the Year Ended December 31, 20Y3 Balance, Dec. 31, 20Y2 Transactions Balance, Dec. 31, 20Y3 155,000 450,000 770,000 Debit Credit 150,000 400,000 750,000 100,000 Cash Accounts receivable (net) Inventories Investments Land Equipment Accum. depr. equipment Accounts payable Accrued expenses payable Dividends payable Common stock, $4 par Paid-in capital in excess of par Retained eanings Totals Operating activities: 500,000 1.400,000 (600,000) (340,000) (45,000) (30,000) (700,000) (200,000) (1,360,000) ,200,000 (500,000) (300,000) (50,000) (25,000) (600,000) (175,000) (950,000) Net income Depreciation Gain on sale of investments Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable Investing activities Purchase of oquipmont Purchaso of land Sale of investments Financing activitios: Declaration of cash dividends Sale of common stock Increase in dividends payable Net increase in cash Tola ms: Series A 20Y3 and 20y2. o Statement of cash flows-indirect method PR 16-1A Dec. 31, 20Y3 Dec.31 om The comparative balance sheet of Navaria Inc. for December 31. 2 as follows: es, 155 450,000 Assets ...770,000 0 ..500,000 1,400,000 (600,000) Cash Inventories Investments . Land Equipment.... 1200,000 (500 2,100,000 ulated depreciation-equipment.... Total assets . .. $2,675,000 340,000 45,000 30,000 700,000 Liabilities and Stockholders' Equity 300,000 Accounts payable 25,000 600,000 175,000 950,000 $2,100,000 200,000 Paid-in capital: Excess of issue price over par-common stock...... the ledger for 2013 Additional data obtained from an examination of the accounts in t are as follows a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. 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 s90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities