! Required information The Foundational 15 (Algo) [LO15-1, LO15-2] [The following information applies to the questions displayed below.] Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable. Inventory Total current assets Property, plant, and equipment Ending Balance $ 56,200 47,100 Beginning Balance $ 66,950 50,600 63,200 57,500 166,500 175,050 171,000 161,000 57,000 114,000 Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 280,500 $ 36,800 28,700 40,250 120,750 $ 295,800 $ 65,500 33,800 69,000 57,500 80,500 69,000 65,500 70,000 $ 280,500 $ 295,800 During the year, Ravenna paid a $6,900 cash dividend and it sold a piece of equipment for $3,450 that had originally cost $7,200 and had accumulated depreciation of $4,800. The company did not retire any bonds or repurchase any of its own common stock during the year. Foundational 15-1 (Algo) Required: 1. What is the amount of the net increase or decrease in cash and cash equivalents that would be shown on the company's statement of cash flows? Net in cash and cash equivalents