Net cash flows from operating activities. $607,790 SHOW ME HOW PR 16-48 Statement of cash flows-direct method The comparative balance sheet of Suffridge Inc. for December 31, 2074 and 2043, is ** follows Dec 31, 2014 Dec 31, 2013 Assets Cash. 5 790090 5 815,600 Accounts receivable Inet). 1.185.100 1091,700 Inventories 1.664.100 6.200 Investments 0 515.800 Land L146.100 Equipment. 1461,300 100 Accumulated depreciation equipment 1574.800 3.100 Total assets. 55.622.590 347,100 Liabilities and Stockholders' Equity Accounts payable 51.289,400 $1.154,000 Accrued expenses payable 80,900 94.600 Dividends payable 120,300 YOR.900 Common stock, Spar 155.200 35.800 Paisin capital in excess of par 1.134.200 53,300 Retained earning 2,192,590 Total abilities and stockholders'equity. 55.672.590 50786 300 The income statement for the year ended December 31, 2024.is is as follow Sales 55,386,900 Cost of merchandise sold 2,808, 100 Gross profit. $2,578,800 Operating expenses Depreciation expert $135.000 Other operating expenses 105.610 Total operating expenses 1,740,610 Income from operations 5 838,190 Other income Gain on sale of westments 186.200 Income before income tax 51,024.390 Income tax expense 357.100 Net income Additional data obtained from an examination of the accounts in the ledger for 2084 are as follows: a. Equipment and land were acquired for cash 1. There were no disposals of equipment during the year. The investments were sold for $702.000 cash d. The common stock was issued for cash e. There was a 5630,400 debit to Retained Earnings for cash dividencias declared. Instructions Prepare a statement of cash flows, using the direct method of presenting cash flows from (used for operating activities