PLEASE CAN YOU DO THE DIRECT METHOD!

Purple Company'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, and (4) all debits to Accounts Payable reflect cash payments for inventory. Additional Information on Current Year Transactions a. Sold equipment for cash. b. Purchased equipment costing $114,375 by paying $66,000 cash and signing a long-term note for the balance. c. Paid cash to reduce the long-term note. Answer is not complete. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ PURPLE COMPANY } \\ \hline \multicolumn{3}{|l|}{ Statement of Cash Flows } \\ \hline \multicolumn{3}{|c|}{ For Current Year Ended December 31} \\ \hline \multicolumn{3}{|l|}{ Cash flows from operating activities } \\ \hline Cash received from customers & 648,175 & \\ \hline Cash paid for inventory & (265,322) & \\ \hline Cash paid for operating expenses & (149,535) & \\ \hline \multirow[t]{2}{*}{ Cash paid for income taxes } & (49,450) & \\ \hline & & $183,868 \\ \hline \multicolumn{3}{|l|}{ Cash flows from investing activities } \\ \hline Cash paid for equipment & (66,000) & \\ \hline \multirow[t]{3}{*}{ Cash received from sale of equipment } & 29,625 & \\ \hline & & \\ \hline & & (36,375) \\ \hline \multicolumn{3}{|l|}{ Cash flows from financing activities } \\ \hline Cash paid on long-term notes & (53,325) & \\ \hline Cash received from issuing stock & 86,000 & \\ \hline \multirow[t]{2}{*}{ Cash paid for dividends } & (53,700) & \\ \hline & & (21,025) \\ \hline Net increase (decrease) in cash & & $126,468 \\ \hline \multicolumn{3}{|l|}{ Cash balance at December 31, prior year } \\ \hline Cash balance at December 31, current year & & $126,468 \\ \hline \end{tabular}