Chapter 13 Pre-Built Problems i Help Sa Saved 3 The following changes took place last year in Pavolik Company's balance sheet accounts: Liabilities and Stockholders Equity Accounts 10 points Asset and Contra-Asset Accounts Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments15 D Common stock Property, plant, and equipment Accumulated depreciation $ 64I $ 14 D Accounts payable $ 18I Accrued liabilities 46D Income taxes payable $ 13I Bonds payable $ 44I $ 18 D $ 23 I $156 I $ 72 D eBook $305I Retained earnings 64 I Hint D DecreaseIIncrease Long-term investments that cost the company $15 were sold during the year for $34 and land that cost $33 was sold for other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during Print $18. In addition, the company declared and paid $12 in cash dividends during the year. Besides the sale of land, no References the year or issue any new common stock The company's income statement for the year follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $ 840 362 478 360 218 Loss on sale of land Gain on sale of investments s (15) 19 122 46 Income before taxes Income taxes Net income S 76 The company's beginning cash balance was $116 and its ending balance was $102 Required 1. Use the indirect method to determine the net cash provided by operating activities for the year. 2. Prepare a statement of cash flows for the year Complete this question by entering your answers in the tabs below