Condensed comparative balance sheets of Breach Company at December 31 , Years 1 and 2 , are as follows: - Equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period. - Stock was issued for cash 3,200 shares at par. - Net income for the current year was $76,000. - Cash dividends declared and paid were $13,000. Breach Company Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from (used for) operating activities: Net income v Adjustments to reconcle net income to net cash flows from (used for) operating activities: Depreciation x Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in accounts payable Increase in inventories v Decrease in taxes pavable Net cash flows from operating activities x Cash flows from (used for) investing activities: Cash paid for purchase of equipment v Net cash flows used for investing activities X Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Net cash flows from financing activities Cash balance, January 1 , Year 2 Cash balance December 31 , Year 2