The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows:

		Dec. 31, 20Y6		Dec. 31, 20Y5
Assets
Cash		$237,610		$222,820
Accounts receivable (net)		86,080		80,030
Inventories		242,980		236,930
Investments		0		91,790
Land		124,630		0
Equipment		268,100		209,480
Accumulated depreciation-equipment		(62,760)		(56,490)
	Total assets	$896,640		$784,560
Liabilities and Stockholders' Equity
Accounts payable		$162,290		$154,560
Accrued expenses payable		16,140		20,400
Dividends payable		8,970		7,060
Common stock, $10 par		48,420		38,440
Excess of paid-in capital over par		182,020		106,700
Retained earnings		478,800		457,400
	Total liabilities and stockholders equity	$896,640		$784,560

The income statement for the year ended December 31, 20Y6, is as follows:

Sales					$1,285,480
Cost of merchandise sold					529,300
Gross profit					$756,180
Operating expenses:
	Depreciation		$6,270
	Other operating expenses		667,630
		Total operating expenses			673,900
Operating income					$82,280
Other expense:
		Loss on sale of investments			(24,780)
Income before income tax					$57,500
Income tax expense					18,400
Net income					$39,100

Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows:

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $67,010 cash.

The common stock was issued for cash.

There was a $17,700 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the direct method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Canace Products Inc. Statement of Cash Flows For the Year Ended December 31, 20Y6

Cash flows from (used for) operating activities:	blank
Cash paid for purchase of landCash received from customersCash received from issuing common stockCash received from sale of investmentCash dividends	$- Select -
Cash paid for merchandiseDecrease in inventoriesDepreciationLoss on sale of investmentsCash received from issuing common stock	- Select -
Cash received from customersCash paid for operating expensesGain on sale of investmentsIncrease in accounts payableIncrease in accounts receivable	- Select -
Cash dividendsCash paid for purchase of equipmentCash paid for purchase of landCash paid for income taxesCash received from issuing common stock	- Select -
Net cash flows from operating activities	blank	$fill in the blank 9
Cash flows from (used for) investing activities:	blank
Cash received from customersCash received from dividendsCash received from gain on sale of investmentsCash received from issuing common stockCash from sale of investments	$- Select -
Cash received from customersCash paid for purchase of landCash paid for merchandiseDepreciationLoss on sale of investments	- Select -
Cash dividendsCash paid for purchase of equipmentCash received from issuing common stockDecrease in accounts receivableIncrease in inventories	- Select -
Net cash flows used for investing activities	blank	fill in the blank 16
Cash flows from (used for) financing activities:	blank
Cash received from accounts receivableCash received from issuing common stockCash from sale of investmentsCash paid for depreciationCash paid for merchandise	$- Select -
Cash paid for purchase of landCash dividendsCash paid for purchase of equipmentCash paid for merchandiseCash paid for depreciation	- Select -
Net cash flows from financing activities	blank	fill in the blank 21
DepreciationNet decrease in cashNet incomeNet increase in cashNet loss	blank	$- Select -
Cash balance, January 1, 20Y6	blank	fill in the blank 24
Cash balance, December 31, 20Y6	blank	$fill in the blank 25

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