Problem 2 Statement of Cash Flows 27 The following information is for Redwood Inc. for the year ended December 31, 2018. Redwood had a balance for cash and cash equivalents of $6,200 on January 1, 2018 25 points $2,000 (8 os 2,100 Cash Received from Customers Interest on investments Sale of land Sale of common stock Issuance of debt securities Cash Pald for! Interest on debt Income tax Debt principal reduction Purchase of equipment Purchase of inventory Dividends on common stock Operating expenses Required: Prepare a statement of cash flows for the year using the direct method for operating activities. (Amounts to be deducted should be indicated with a minus slon) Saved Statement of Cash Flows For the Year Ended December 31, 2018