The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment Total assets $ 189,950 $ 178,900 69,530 63,790 195,970 188,430 0 73,320 100,450 0 214,170 168,640 (51,000) (45,500) $719,070 $627,580 Liabilities and Stockholders' Equity Accounts payable $ 129,810 $ 123 30 Accrued expenses payable 13,060 16,320 Dividends payable 7,000 5,600 38,400 29,500 Common stock, $1 par Paid-in capital: Excess of issue price over par-common 145,900 85,350 stock Paid-in capital: Excess of issue price over par-common stock Retained earnings Total liabilities and stockholders' equity 145,900. 85,350 384,900 367,180 $719,070 $627,580 The income statement for the year ended December 31, 20Y3, is as follows: Sales Cost of merchandise sold Gross profit Operating expenses: Depreciation expense Other operating expenses Total operating expenses Operating income Other income: Gain on sale of investments Income before income tax Income tax expense Net income $ 5,500 393,190 $1,206,110 741,760 $464,350 398,690 $ 65,660 12,200 $ 77,860 31,140 $ 46,720 Income tax expense Net income 31,140 $46,720 Additional data obtained from an examination of the accounts in the ledger for 2013 are as follows: a. The investments were sold for $85,520 cash. b. Equipment and 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 $29,000 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Navaria Inc. Statement of Cash Flows For the Year Ended December 31, 2013 Cash flows from operating activities: Net cash flow from operating activities Cash flows from (used for) investing activities: For the Year Ended December 31, 20Y3 Cash flows from operating activities: Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year 0000 0 1000 0000