Requirement 2. Also prepare a supplementary schedule of cash flows from operations using the direct method. (Use parentheses or a minus sign for numbers to be subtracted.) Graphic Company, Inc Statement of Cash Flows-Operating Activities Section (Direct Method) For the Year Ended March 31, 2017 Operating Activities Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then continue to the next question. Selected transaction data for the year ended March 31, 2017, include the following a. Net income, $76,800 b. Paid long-term note payable with cash, $59,600 c. Cash payments to employees, $42,700 d. Loss on sale of land, $9,200 e. Acquired equipment by issuing long-term note payable, $14,200 f. Cash payments to suppliers, $145,600 g. Cash paid for interest, $3,000 h. Depreciation expense on equipment, $13,100 i. Paid short-term note payable by issuing common stock, $5,300 j. Paid cash dividends, $45,600 k. Received cash for issuance of common stock, $2,200 . Cash received from customers, $295,200 m. Cash paid for income taxes, $11,600 n. Sold land for cash, $52,300 o. Interest received (in cash), $1,800 p. Purchased long-term investment for cash, $2,900 Graphic Company, Inc. Comparative Balance Sheets March 31, 2017 and 2016 Increase 2017 2016 (Decrease) Assets Current assets: Cash Accounts receivable Inventory Prepaid insurance S 55,400 S 14.900 S40.500 (1,700) 5,100 (1.200) 51,600 53,300 64,900 59,800 5,300 76,000 33,300 4,100 Total curent assets Land Equipment, net Investments Total assets 4,000 95,500 (61,500) 1,100 2,900 71,500 70,40 9,8006,900 S 291,300 S 306,100 Liabilities Current iabilities Accounts payable Note payable, short-term Income tax payable Salary payable Interest payable Accrued labilities 4,900 S 3,500 43,200 48,500 3,800 5,10 9,400 12,400 8,200 7,000 2,6003,700 82,100 90,200 1,400 (5,300) (1,300) (3,000) 1,200 (1,100) Total curment iabilities 48,300 93,700(45,400) Long-term liabilities Total liabilities 30,400 83,900 Stockholders' equity Common stock 69,400 61,900 7,500 91.500 60,300 Retained eamings 31,200 S 160,900 S 122,200 Total stockholders' equity S 291,300 S 306,100 Total liabilities and equity