Stockholders' equity Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Teal Company Income Statement For the Year Ended May 31, 2025 Sales revenue Cost of goods sold Gross profit Expenses The following is additional information concerning Teal's transactions during the year ended May 31, 2025. 1. All sales during the year were made on account. 2. All merchandise was purchased on account, comprising the total accounts payable account. 3. Plant assets costing $98,700 were purchased by paying $28,700 in cash and issuing 7,000 shares of stock. 4. The "other expenses" are related to prepaid items. 5. All income taxes incurred during the year were paid during the year. 6. In order to supplement its cash, Teal issued 2,000 shares of common stock at par value. 7. Cash dividends of $89,900 were declared and paid at the end of the fiscal year. Prepare a statement of cash flows for Teal Company for the year ended May 31, 2025, using the direct method. (A reconciliation of net income to net cash provided is not required.) (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) TEAL COMPANY Statement of Cash Flows For the Year Ended May 31, 2025 Cash Flows from Operating Activities Cash Received from Customers $ Cash payments: Cash Payment to Suppliers $ Cash Payment to Employees Cash Payment for Interest Cash Payment for Income Taxes Cash Payment for Other Expenses Net Cash Provided by Operating Activities Cash Flows from Financing Activities Cash Received from Common Stock Issue $ Cash Paid to Retire Bonds Payable Net Cash Used by Investing Activities Teal Company, a major retailer of bicycles and accessories, operates several stores and is a publicly traded company. The comparative balance sheet and income statement for Teal as of May 31, 2025, are as follows. The company is preparing its statement of cash flows. Teal Company Comparative Balance Sheet As of May 31 Current assets Plant assets Current liabilities Long-term debt Bonds payable Total liabilities Stockholders' equity Common stock, $10 par