Exercise 12-14 The following information is available for Kingbird, Inc. for 2017. Cash used to purchase treasury stock Cash dividends paid $167,869 76,082 Cash paid for interest Net income 78,176 1,620,407 Sales revenue 2,798,980 Cash paid for taxes 345,510 Cash received from customers 1,975,689 Cash received from sale of building (at book value) 689,624 Cash paid for operating expenses 268,730 Beginning cash balance 38,390 Cash paid for goods and services 974,059 Cash received from issuing common stock 1,238,950 Cash paid to redeem bonds at maturity 698,000 395,068 Cash paid to purchase equipment Prepare a statement of cash flows using the direct method. (Show amounts in the investing an parenthesis e.g. (15,000).) Kingbird, Inc. Statement of Cash Flows Direct Method