The comparative balance sheet of Morgensen Educational Supply at December 31, 2016, reported the following: (Click the icon to view the comparative balance sheet.) Morgensen's transactions during 2016 included the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Morgensen Educational Supply for the year ended December 31, 2016. Use the indirect method to report cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. More Info $ Morgensen Educational Supply Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: $ 16,800 108,000 Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash 16,200 Depreciation expense 53,900 Purchase of building with cash 53,000 Net income 60,600 104,000 Data Table 2016 2015 Current Assets: Cash $ 82,000 $ 22,500 Accounts Receivable 14,700 21,200 63,900 59,800 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Merchandise Inventory Current Liabilities: Accounts Payable $ 31,100 $ 29,600 Accrued Liabilities 10,800 11,500 Print Done Choose from any list or enter any number in the input fields and then continue to the next question Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2015 Cash Balance, December 31, 2016