Myran Interiors began the year with cash of $52,000. During the year, Myran Interiors earned service revenue of $404,000. Cash collections for the year were $390,000. Expenses for the year were $355,000, with $340,000 of that total paid in cash. The company also used cash to purchase equipment for $80,000 and to pay a cash dividend to stockholders of $34,000. During the year, the company also borrowed $58,000 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.) Myran Interiors Statement of Cash Flows (Direct Method) For the Year Ended December 31 Operating Activities: Net cash provided by (used for) operating activities