Financial Statements, including Statement of Cash Flows Pendray Systems Corporation began operations on January 1, 20Y5, as an online retailer of computer software and hardware. The following financial statement data were taken from Pendray's records at the end of its first year of operations, December 31, 20Y5 Accounts payable $40,000 Accounts receivable 220,000 Common stock 504,000 Cash Cash payments for operating activities 1,314,000 Cash receipts from operating activities 1,380,000 Cost of sales 870,000 Dividends 60,000 Income tax expense 106,000 Income taxes payable 16,000 Interest expense 4,000 Inventories 230,000 Note payable (due in ten years) 100,000 Property, plant, and equipment 530,000 Retained earnings ? Sales 1,600,000 Selling and administrative expenses 160,000 3. Prepare a balance sheet as of December 31, 20Y5. Pendray Systems Corporation Balance Sheet December 31, 20Y5 Assets Accounts paya ble $ Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 4. Prepare a statement of cash flows for the year ended December 31, 20Y5. Use the minus sign to indicate cash out flows, decreases in cash, or cash payments. If your answer is zero enter "0". Pendray Systems Corporation Statement of Cash Flows For the Year Ended December 31, 20Y5 Cash flows from operating activities: Cash flows from investing activities: Cash flows from financing activities