Davis Company has the following calendar-year information: Cash paid to purchase equipment... $ 125,000 220,000 280,000 4,000 36,000 530,000 15,000 100,000 25,000 35,000 40,000 ash paid for merchandise inventory..... Cash paid for operating expenses........... Cash paid for interes. Cash dividends paid Cash received from customers Cash received from stock issuance............................ . Cash proceeds from sale of land.......................... Cash balance at beginning of year.. Cash balance at end of year Required: Prepare a complete statement of cash flows using the direct method. (20 points possible.)