Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 2015, is as follows: Cash Accounts receivable (net) Inventories Investments Land Equipment Assets Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Dec. 31, 20Y6 Dec. 31, 2015 $297,700 $280,440 107,850 100,720 304,450 298,220 115,540 156,150 0 335,900 263,660 (78,640) (71,100) $1,123,410 $987,480 Accounts payable $203,340 $194,530 Accrued expenses payable 20,220 25,670 Dividends payable 11,230 8,890 Common stock, $10 par 60,660 48,390 Paid-in capital: Excess of issue price over par-common stock 228,050. 134,300