Dive in Company was started several yoars opo by two diving instructors. The company's comparative bslance sheets and income statement, as well as additional information, are presented below. Additional Data: a. Rent is paid in advance each month, and Office Expenses are paid in cash as incurred b. An owner contributed capital by paying $600 cash in exchange for the company's stock Required: 1. Prepare the statement of cash flows for the current year ended Docember 31 using the direct method. (Amounts to be deducted should be indicated by a minus sign-) 3 10 points ebook Pint References \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ DIVE IN COMPANY } \\ \hline \multicolumn{3}{|c|}{ Statement of Cash Flowis } \\ \hline \multicolumn{3}{|c|}{ For the Year Ended December 31} \\ \hline \multicolumn{3}{|l|}{ Cash Flows from Operating Activitios: } \\ \hline \multicolumn{3}{|l|}{ Cash Collected from Customers } \\ \hline Cash Paid for Salaries and Wages to Employees & (39,150) & \\ \hline \multicolumn{3}{|l|}{ Cash paid for rent and office expenses } \\ \hline & & \\ \hline Net Cash Used in Operating Activities & & (39,150) \\ \hline \multicolumn{3}{|l|}{ Cash Flows Used in Investing Activities: } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Cash Flows from Financing Activities: } \\ \hline Cash Proceeds from Issuing Stock & 600 & \\ \hline \\ \hline Net Cash Provided by Financing Activities & & 600 \\ \hline \multicolumn{3}{|l|}{ Not Decrease in Cash during the Year } \\ \hline \multicolumn{3}{|l|}{ Cash Balance, January 1} \\ \hline Cash Balance, December 31 & & 0 \\ \hline \end{tabular}