The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is as follows: Dec. 31, 2016 Dec. 31, 2015 Assets Cash $625,080 $586,430 Accounts receivable (net) $228,260 $209,470 Inventories $641,070 $616,400 Investments $0 $240,170 Land $327,640 $0 Equipment $705,000 $552,830 Accumulated depreciation-equipment ($165,670) ($148,610) Total assets $2,361,380 $2,056,690 Liabilities and Stockholders Equity Accounts payable (merchandise creditors) $425,090 $405,900 Accrued expenses payable (operating expenses) $43,140 $52,460 Dividends payable $23,780 $19,970 Common stock, $2 par $150,000 $100,000 Paid-in capital: Excess of issue price over parcommon stock $417,500 $280,000 Retained earnings $1,301,870 $1,198,360 Total liabilities and stockholders equity $2,361,380 $2,056,690 Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows: A. The investments were sold for $280,150 cash. B. Equipment and purchase of land were acquired for cash. C. There were no disposals of equipment during the year. D. The common stock was issued for cash. E. There was a $95,040 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities