Presented here are the financial statements of Pearl Company. Accounts recelvable Inventory \begin{tabular}{rr} 56,000 & 39,200 \\ 78,400 & 56,000 \\ 168,000 & 218,400 \\ (89,600) & (67,200) \\ \hline$310,800 & $302,400 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Accounts payable: Income taxes payable Bonds payable Common stock Retained earnings Total Pearl Company Income Statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Gross profit $677.600 Sellingexpenses$50.400 \begin{tabular}{lll} Administrative expenses & 16,800 & 67,200 \\ \hline Income from operations & 120,400 \end{tabular} Interest expense Income before income taxes Income tax expense Net income 8,400112,00022,400$89,600 1. Depreciation expense was $49,000. 2. Dividends declared and paid were $56,000. 3. During the year, equipment was sold for $23,800cash. This equipment originally cost $50,400 and had accumulated depreciation of $26,600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and inventory purchases are on account. Prepare a statement of cash flows for Pearl Company using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a -sign eg 15,000 or in parenthesis eg (15,000).)