Chapter 14 - Homework ( 7 Exercise 14-4 Prepare a Statement of Cash Flows (LO14-1, LO14-2] 0.55 points The following changes took place last year in Pavolik Company's balance sheet accounts: ook Asset and Contra-Asset Accounts Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation $ 50 $ 1101 $70 D 91 $ 60 $ 185 I SET Liabilities and Stockholders' Equity Accounts Accounts payable $ 35 1 Accrued liabilities Income taxes payable $ 81 Bonds payable $ 150 Common stock $0D Retained earnings $ 541 D = Decrease; I = Increase Long-term investments that cost the company $6 were sold during the year for $16 and land that cost $15 was sold for $9. In addition, the company declared and paid $30 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock The company's income statement for the year follows: 400 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items! Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income Chapter 14 - Homework Saved The company's income statement for the year follows: 0.55 points $ 700 400 300 184 116 eBook Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income $ (6) Hint Print References The company's beginning cash balance was $90 and its ending balance was $85. 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. Required 1 Required 2 Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.) Pavolik Company Chapter 14 - Homework 12 . 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. 0.55 points Complete this question by entering your answers in the tabs below. Required 1 eBook Required 2 Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.) Pavolik Company Statement of Cash Flows (partial) 1 O Type here to search Chapter 14 - Homework Required 1 Required 2 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) 0.55 points Pavolik Company Statement of Cash Flows Operating activities: eBook Hint Investing activities: Print References Financing activities 0 Beginning cash and cash equivalents Ending cash and cash equivalents