Marcus Interiors began the year with cash of $50,000. During the year, Marcus Interiors earned service revenue of $412,000. Cash collections for the year were $395,000. Expenses for the year were $375,000, with $360,000 of that total paid in cash. The company also used cash to purchase equipment for $70,000 and to pay a cash dividend to stockholders of $35,000. During the year, the company also borrowed $56,000 cash by issuing a long-term note payable. Requirement Prepare the company's statement of cash flows using the direct method. Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted, net cash outflows, and decreases in cash.) Marcus Interiors Statement of Cash Flows (Direct Method) For the Year Ended December 31 Operating Activities: Net cash provided by (used for) operating activities Collections from customers Issued long-term note payable to borrow money Net income Payment of dividends Payments to suppliers and employees Purchase of equipment Service revenue earned VIN