Statement of Cash Flows (Direct Method) The Huber Company's income statement and comparative balance sheets as of December 31 of 2016 and 2015 follow: HUBER COMPANY Balance Sheets Dec. 31, 2016 Dec. 31, 2015 Assets \begin{tabular}{|l|r|r|} \hline Cash & $49,000 & $16,000 \\ \hline Accounts Receivable & 64,000 & 49,000 \\ \hline Inventory & 85,000 & 64,000 \\ \hline Land & 117,000 & 160,000 \\ \hline Building and Equipment & 441,000 & 361,000 \\ \hline Accumulated Depreciation & (122,000) & (100,000) \\ \hline Patent & 74,000 & \\ \hline Total Assets & $708,000 & $550,000 \\ \hline Liabilities and Stockholders' Equity & & \\ \hline Accounts Payable & $36,000 & $26,000 \\ \hline Interest Payable & 13,000 & 5,000 \\ \hline Income Tax Payable & 7,000 & 12,000 \\ \hline Bonds Payable & 180,000 & 75,000 \\ \hline Common Stock & 350,000 & 350,000 \\ \hline Retained Earnings & 122,000 & 82,000 \\ \hline Total Liabilities and Stockholders' Equity & $708,000 & $550,000 \\ \hline \end{tabular} During 2016 s27,000 of cath dividends were dechared and paid, A patent valued at $80,000 was obtained in exchange for land. Equipment that or iginally cost 520,000 and had 57,000 accumulated deprectation was sold for 513,000 cash. Honds payable were sold for cash and cash was uned to puy for suructural improvements to the building Retqrined a. Compute the thange in cash that occurred during 2016 b. Prepare a statement of cash flows using the direct method. Use one cash outflow for "tash paid for wages and other operatingerperses." Accounts paysble relate to irventory purchases only a. Charge in Cash during 201630 h Itea a narativa eirn whith rach nutflnist ancimare