The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows:

1

Dec. 31, 20Y3

Dec. 31, 20Y2

2

Assets

3

Cash

$625,680.00

$586,230.00

4

Accounts receivable (net)

228,100.00

208,850.00

5

Inventories

640,910.00

617,650.00

6

Investments

0.00

240,620.00

7

Land

328,090.00

0.00

8

Equipment

704,540.00

553,320.00

9

Accumulated depreciation-equipment

(166,310.00)

(147,840.00)

10

Total assets

$2,361,010.00

$2,058,830.00

11

Liabilities and Stockholders’ Equity

12

Accounts payable

$425,280.00

$404,550.00

13

Accrued expenses payable

41,990.00

52,020.00

14

Dividends payable

24,190.00

20,170.00

15

Common stock, $4 par

142,000.00

106,000.00

16

Paid-in capital: Excess of issue price over par—common stock

416,700.00

279,900.00

17

Retained earnings

1,310,850.00

1,196,190.00

18

Total liabilities and stockholders’ equity

$2,361,010.00

$2,058,830.00

Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

A.	The investments were sold for $279,190 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 $211,240 credit to Retained Earnings for net income.
F.	There was a $96,580 debit to Retained Earnings for cash dividends declared.

Labels and Amount Descriptions
Cash used for dividends
Cash used for merchandise
Cash used for purchase of equipment
Cash used for purchase of land
Cash received from customers
Cash from sale of common stock
Cash from sale of investments
December 31, 20Y3
Decrease in accounts payable
Decrease in accounts receivable
Decrease in accrued expenses payable
Decrease in inventories
Decrease in cash
Depreciation
For the Year Ended December 31, 20Y3
Gain on sale of investments
Increase in accounts payable
Increase in accounts receivable
Increase in accrued expenses payable
Increase in cash
Increase in inventories
Loss on sale of investments
Net cash flow from operating activities
Net cash flow used for operating activities
Net cash flow from investing activities
Net cash flow used for investing activities
Net cash flow from financing activities
Net cash flow used for financing activities
Net income

Answer:

Navaria Inc.

Statement of Cash Flows

1	Cash flows from operating activities:
2
3	Adjustments to reconcile net income to net cash flow from operating activities:
4
5
6	Changes in current operating assets and liabilities:
7
8
9
10
11
12
13	Cash flows from (used for) investing activities:
14
15
16
17
18
19	Cash flows from (used for) financing activities:
20
21
22
23
24	Cash at the beginning of the year
25	Cash at the end of the year