Statement of Cash Flows: Colorado Corporation was organized at the beginning of the year, with the investment of $255,100 in cash by its stockholders. The company immediately purchased an office building for $300,000, paying $214,800 in cash and signing a three-year promissory note for the balance. Colorado signed a five-year, $60,700 promissory note at a local bank during the year and received cash in the same amount. During its first year, Colorado collected $94,870 from its customers. It paid $66,300 for inventory, $20,900 in salaries and wages, and another $3,400 in taxes. Colorado paid $6,000 in cash dividends. Required: 1. Prepare a statement of cash flows for the year. If your answer is zero, enter "0". Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Colorado Corporation Statement of Cash Flows For the First Year Cash flows from operating activities: Cash collected from customers 94,870 Cash paid for inventory 66,300 Cash paid in salaries and wages 20,900 Cash paid in taxes 3,400 185,470 Net cash provided by operating activities Cash flows from investing activities: Payment on office building Cash flows from financing activities: Proceeds from issuance of stock Payment on office building Dividends declared and paid Net cash provided by financing activities * 28,400 6,000 300,000