Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Comparative Balance Sheet Property, plant, and equipment Less accumulated depreciation Total assets Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Ending Balance $ 3,300 90,500 Beginning Balance $ 24,840 72,420 42,900 51,230 9,810 16,350 254,400 206,000 551,050 348,800 $ 603,160 $ 9,810 24,720 51,900 164,800 513,600 315,650 $ 568,790 $ 27,500 17,850 48,760 210,000 157,000 140,000 194,930 124,680 $ 603,160 $ 568,790 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 918,000 459,000 459,000 283,500 175,500 41,300 $ 134,200 The company declared and paid $63,950 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all amounts as positive values except for adjustments to cash basis that are deducted.) Answer is not complete. Sales Adjustments to a cash basis: Increase in accounts receivable Decrease in accounts receivable $ 918,000 90,500 x Required: Prepare the operating activities section of the company's statement of cash flows for the year using the direct method. (Enter all Imounts as positive values except for adjustments to cash basis that are deducted.) Sales Adjustments a cash basis: Answer is not complete. Increase in accounts receivable Decrease in accounts receivable Adjustments to a cash basis: Adjustments to a cash basis: Adjustments to a cash basis: $ 918,000 90,500 x x