Comparative balance sheet of The Green Tree Inc, for December 31, Years 1 and 2 ended December 31 appears below in condensed fom: Year 2 Year! Cash Accounts receivable (net) Inventories Investments Equipment Accumulated depreciation equipment $ 45,000 51,300 147,200 0 493,000 (113.700 $622,800 $53,500 58.000 135,000 60,000 375.000 (128.000 $553,500 Accounts payable Bonds payable, due Year 4 Commonstock $10 par Paid-in capital in excess ofpascommon stock Retained earnings $61,500 0 250.000 75,000 236.300 $622,800 $42.600 100,000 200.000 50.000 160.900 $553,500 The income statement for the current year is as follows: $623.000 348.500 $274,500 $24.700 75.300 Sales Cost of merchandises old Gross profit Operating expanses: Depreciation expense Other operating expenses Income from operations Other income Gain on sale of investment Other expanse Interest expense Income before income tax Income tax Net income 100.000 $174,500 $ 5,000 12.000 (7.000 $167,500 64.100 $103.400 Additional data for the current year are as follows: (a) Fully depreciated equipment costing $39,000 was scrapped, no salvage, and equipment was purchased for $157,000. (b) Bonds payable for $100.000 were retired by payment at their face amount. ) 5,000 shares of common stockwere is sued at $15 forcash. (d) Cash dividends declarad were paid $28,000. (e) All sales are on account. Prepare a statement of cash flows, using the direct method ofreporting cash flows from operating activities