The 2016 income statement and comparative balance sheet of Granite Rock, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) Additionally, Granite Rock purchased land of $23,900 by financing it 100% with long-term notes payable during 2016. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $10,500. The plant acquisition was for cash. Requirements 1. Prepare the 2016 statement of cash flows by the direct method. 2. How will what you learned in this problem help you evaluate an investment? Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Receipt From Issuance of Common Stock Cash Payment of Notes Payable 24,100 (50,900) Cash Payment of Dividends (59,900) Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Etext pages Calculator (27,500) (86,700) 10,600 15,900 $ 26,500 Clear all Check answer