Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31,20Y6 and 20Y5, is as follows: The income statement for the year ended December 31,20Y6, is as follows: The income statement for the year ended December 31,20Y6, is as follows: Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $71,960 cash. d. The common stock was issued for cash. e. There was a $19,000 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Use the minus sigg to indicate cask outflows, cash payments, decreases in cash, or any negative adjustmentsi: Statement of Cash Flows For the Year Ended December 31, 20 Y6 Cash flows from operating activities: Cash received from customers Cash payments for merchandise Cash payments for operating expenses Cash payments for income taxes Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Check My Work