Question 3 of 3 Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Granger Inc. using the direct method. (Show amounts in the investing and financing sections than decrease cash flow with either a-signes. -15,000 or in parenthesis eg. (15,000)) Granger Inc. Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Cash Receipts from Customers 338660 Less For Operating Expenses Purchase of Plant Assets 110410 i For Operating Expenses 19310 For Income Taxes 27280 i For interest 4730 161730 i Net Canh Provided by Operating Activities 176930 Cash Flows from westing Activities PP Cash Flows from Investing Activities Purchase of Plant Assets (100000) Sale of Plant Assets 1500 Purchase of Investments 29000) Net Cash used by Investing Activities [127500 Cash Flows from Financing Activities Sale of Common Stock 45000 Redemption of Bonds (36000) Payment of Cash Dividends (26030) Net Cash Provided by Financing Activities (17030) Net Increase in Cash 32400 Cath at Beginning of Period 48400 Cash at End of Period 80800