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

	Dec. 31, 20Y3			Dec. 31, 20Y2
Assets
Cash	$ 202,870			$ 191,470
Accounts receivable (net)	74,410			68,270
Inventories	209,740			201,670
Investments	0			78,470
Land	107,500			0
Equipment	229,210			180,480
Accumulated depreciation-equipment	(54,500)			(48,700)
Total assets	$769,230			$671,660
Liabilities and Stockholders' Equity
Accounts payable	$ 138,940			$ 132,320
Accrued expenses payable	13,970			17,460
Dividends payable	7,500			6,000
Common stock, $1 par	41,000			31,570
Excess of paid-in capital over par	156,200			91,350
Retained earnings	411,620			392,960
Total liabilities and stockholders equity	$769,230			$671,660

The income statement for the year ended December 31, 20Y3, is as follows:

Sales		$1,279,060
Cost of merchandise sold		786,620
Gross profit		$ 492,440
Operating expenses:
Depreciation expense	$ 5,800
Other operating expenses	416,970
Total operating expenses		422,770
Operating income		$ 69,670
Other income:
Gain on sale of investments		13,100
Income before income tax		$ 82,770
Income tax expense		33,110
Net income		$ 49,660

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

1. The investments were sold for $91,570 cash.
2. Equipment and land were acquired for cash.
3. There were no disposals of equipment during the year.
4. The common stock was issued for cash.
5. There was a $31,000 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the direct method of presenting cash flows from (used for) 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, 20Y3

Cash flows from (used for) operating activities:
Cash received from customersCash received from dividendsCash received from issuing common stockCash received from sale of investmentsCash received from depreciation	$- Select -
Cash paid for merchandiseDecrease in inventoriesDepreciationDividendsLoss on sale of investments	- Select -
Cash dividendsCash used for purchase of landCash paid for operating expensesGain on sale of investmentsIncrease in accounts payable	- Select -
Cash used for dividendsCash paid for operating expensesCash paid for purchase of landCash paid for income taxesCash received from customers	- Select -
Net cash flows from operating activities		$fill in the blank 9
Cash flows from (used for) investing activities:
Cash received from customersCash received from issuing common stockCash received from sale of investmentsCash received from retained earningsGain on sale of investments	$- Select -
Cash used for dividendsCash paid for purchase of landCash paid for merchandiseDepreciationGain on sale of land	- Select -
Cash paid for income taxesCash paid for operating expensesCash paid for purchase of equipmentCash received from customersDecrease in accounts receivable	- Select -
Net cash flows used for investing activities		fill in the blank 16
Cash flows from (used for) financing activities:
Cash received from customersCash received from dividendsCash received from depreciationCash received from issuing common stockCash received from sale of investments	$- Select -
Cash dividendsCash paid for operating expensesCash paid for income taxesCash paid for purchase of landDecrease in inventories	- Select -
Net cash flows from financing activities		fill in the blank 21
DepreciationNet decrease in cashNet incomeNet increase in cashNet loss		$- Select -
Cash balance, January 1, 20Y3		fill in the blank 24
Cash balance, December 31, 20Y3		$fill in the blank 25