I. Use the following information about the calendar-year cash flows of MacArthur Company to prepare a statement of cash flows (direct method) and a schedule of non cash investing and financing activities. Cash and cash equivalents , beginning year balance $18,000 Cash and cash equivalents, year- end balance $ 78750 Cash payments for merchandise inventory $ 75,750 Cash paid for store equipment $15,750 Cash borrowed on three month note payable $22,500 Cash dividends paid $12,000 Cash paid for salaries $39,000 Cash payments for other operating expenses $ 48,000 Building purchased and financed by long term note payable $78,000 Cash received from customers $ 220,500 Cash interest received $ 8250