Superb Digital Services, Inc., has provided the following data from the company's records for the year just ended December 31: Click the icon to view the data.) Requirements 1. Prepare the statement of cash flows for Superb Digital Services, Inc., using the direct method for cash flows from operations. Note that you will need to calculate the ending balance of cash and cash equivalents. Include a schedule of noncash investing and financing activities. 2. Evaluate Superb's cash flows for the year. Discuss each of the categories of cash flows in your response. investing Activites: Cash used to purchase plant assets Proceeds from sale of plant assets Proceeds from sale of long-term investment Net cash provided by (used for) investing activities Financing Activities: Cash used to repay long-term debt Cash used to pay dividends Cash received from issuing long-term note payable Cash received from issuing common stock Net cash provided by (used for) financing activities (52,500) 24,200 12,200 (16,100) Data table a. Collection of interest..... $ 5,700 b. Cash sales.. $ 251,500 c. Credit sales.. $ 677,000 d. Proceeds from sale of long-term investment. $ 12,200 e. Gain on sale of investment... $ 2,600 f. Payments to suppliers.... $ 573,000 g. Cash payments to purchase plant assets... h. Depreciation expense.. i. Salaries expense.. j. Payment of short-term note payable by issuing common stock k. Cost of goods sold.... I. Proceeds from issuance of long-term note payable.... $ 52,500 $ 63,100 $ 77,900 $ 72,400 *** $ 569,000 $ 24,700 m. Income tax expense and payment. $ 38,300 n. Proceeds from issuance of common stock... $ 24,500 1. Proceeds Hum Issuance or long-term note payable. 24,100 m. Income tax expense and payment. $ 38,300 n. Proceeds from issuance of common stock.... $ 24,500 o. Receipt of cash dividends.... 6,500 p. Interest revenue. $ 5,700 q. Payment of cash dividends....... 28,200 r. Collections of accounts receivable... $ 573,500 s. Amortization expense.. $ 3,700 Payments on long-term notes payable..... 44,000 u. Interest expense and payments... $ 12,100 v. Purchase of equipment by issuing common stock to seller....... $ 17,900 w. Payment of salaries..... ...I.. $ 74,500 x. Proceeds from sale of plant assets. 24,200 y. Loss on sale of plant assets... $ 3,600 z. Cash and cash equivalents balance, beginning of year...... $ 25,900