Michael Hart Associates closed its books for the current year. The firm provided the following comparative balance sheets and income statement. (Click the icon to view the balance sheets.) (Click the icon to view the income statement.) The company sold its indefinite-life intangible assets at their carrying value. Cash was used to acquire land. The debt investments were purchased on December 31 . Requirement Prepare the company's cash flow statement for the current year under the direct method. Present any required disclosures. field is not used in the statement, leave the field empty; do not select a label or enter a zero.) Michael Hart Associates closed its books for the current year. The firm provided the following comparative balance sheets and income statement. Net Cash Provided (Used) by Operating Activities Investing Activities: Net Cash Provided (Used) by Investment Activities Financing Activities: Michael Hart Associates closed its books for the current year. The firm provided the following comparative balance sheets and income statement. Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents, Beginning of Year Cash and Cash Equivalents, End of Year Provide all required cash flow disclosures. Cash Flow Disclosures for the Direct Method Significant Noncash Investing and Financing Activities: Accounting Policy for the Definition of Cash Equivalents: For purposes of the statement of cash flows, the company considers all debt instruments purchased with maturities of three months or less ccounting Policy for the Definition of Cash Equivalents: For purposes of the statement of cash flows, the company considers all be cash equivalents. debt instruments purchased with maturities of three months or less debt instruments purchased with maturities of three months or less from Operating Activities: Changes in Operating Working Capital Accounts: Net Cash Provided (Used) by Operating Activities Balance Sheet Balance Sheet Balance Sheet Balance Sheet Income Statement