Michael Interiors began the year with cash of $59,000. During the year, Michael Interiors earned service i cash. The company also used cash to purchase equipment for $75,000 and to pay a cash dividend to stow 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 subtract Michael Interiors Statement of Cash Flows (Direct Method) For the Year Ended December 31 Operating Activities: Collections from customers Payments to suppliers and employees Net cash provided by (used for) operating activities 380000 340000 40000