S 33 D The following changes took place last year in Pavolik Company's balance sheet accounts: Ansot and contra-set Accounta Liabilities and Stockholdero' Equity Accounta Cash Accounts payable $ 1011 Accounts receivable $ 371 Acerved liabilition $ 37 D Inventory $ BID Income taxes payable 42 I Prepaid expenses $ 321 Bonds payable 33081 long-term investments 34 D Common stock $180 Property, plant, and equipment $5901 Retained earnings $1211 Accumulated depreciation 3121 D-Decrease; 1 = Increase." Long term investments that cost the company $34 were sold during the year for $72 and land that cost $71 was sold for $37. In addition, the company declared and paid $31 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock. The company's income statement for the year follows: $1.410 .628 782 550 232 Sales Cont of goods sold tona margin Selling and administrative expenses Not operating income Nonoperating items! Los on sale of land Gain on sale of investments Income before taxen Income taxe Not income $(34) 4 236 54 152 3 The company's beginning cash balance was $154 and its ending balance was $121 Required: 1 Use the indirect method to determine the net cash provided by operating activities for the year. 2. Prepare a statement of cash flows for the year Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.) Pavolik Company Statement of Cash Flows (partial) tes Recured Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Requiled 2 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Pavolik Company Statement of Cash Flows Operating activities: Investing activities: Financing activities Beginning cash and cash equivalents Ending cash and cash equivalents