Panzarella Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. Additional Information on Current Year Transactions a. Purchased equipment for $57,000 cash. b. Issued 40,000 shares of common stock for $5 cash per share. c. Declared and paid $102,620 in cash dividends. As your reconstructed entries are recorded, you will explain the changes in the beginning and ending balances for each account. Begin by selecting "Post-closing" from the drop-down menu. Verify that each balance agrees with the December 31, current year, balance sheet above. Year 2021 represents current year from the problem statement. Prepare the Statement of Cash flows for the year ended December 31, current year using the Direct Method. Hint Use the Cash T-account on the General Ledger tab to identify the sources and uses of cash. List cash outflows as negative values. Unadjusted Dates: December 31 to: December 31> PANZARELLA COMPANY Statement of Cash Flows (Direct Methe Statement of Cash Flows (Direct Method) For Current Year Ended December 31