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

	Dec. 31, 20Y3			Dec. 31, 20Y2
Assets
Cash	$ 235,640			$ 222,020
Accounts receivable (net)	86,280			79,160
Inventories	243,190			233,840
Investments	0			90,990
Land	124,660			0
Equipment	265,790			209,280
Accumulated depreciation-equipment	(63,200)			(56,400)
Total assets	$892,360			$778,890
Liabilities and Stockholders' Equity
Accounts payable	$ 161,110			$ 153,440
Accrued expenses payable	16,200			20,250
Dividends payable	8,800			7,000
Common stock, $1 par	47,600			36,610
Excess of paid-in capital over par	181,100			105,930
Retained earnings	477,550			455,660
Total liabilities and stockholders equity	$892,360			$778,890

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

Sales		$1,493,150
Cost of merchandise sold		918,290
Gross profit		$ 574,860
Operating expenses:
Depreciation expense	$ 6,800
Other operating expenses	486,770
Total operating expenses		493,570
Operating income		$ 81,290
Other income:
Gain on sale of investments		15,200
Income before income tax		$ 96,490
Income tax expense		38,600
Net income		$ 57,890

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

1. The investments were sold for $106,190 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 $36,000 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 depreciationCash received from customers	$Cash received from customers
Cash paid for merchandiseDecrease in inventoriesDepreciationDividendsLoss on sale of investmentsCash paid for merchandise	Cash paid for merchandise
Cash dividendsCash used for purchase of landCash paid for operating expensesGain on sale of investmentsIncrease in accounts payableCash paid for operating expenses	Cash paid for operating expenses
Cash used for dividendsCash paid for operating expensesCash paid for purchase of landCash paid for income taxesCash received from customersCash paid for income taxes	Cash paid for income taxes
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 investmentsCash received from sale of investments	$Cash received from sale of investments
Cash used for dividendsCash paid for purchase of landCash paid for merchandiseDepreciationGain on sale of landCash paid for purchase of land	Cash paid for purchase of land
Cash paid for income taxesCash paid for operating expensesCash paid for purchase of equipmentCash received from customersDecrease in accounts receivableCash paid for purchase of equipment	Cash paid for purchase of equipment
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 investmentsCash received from issuing common stock	$Cash received from issuing common stock
Cash dividendsCash paid for operating expensesCash paid for income taxesCash paid for purchase of landDecrease in inventoriesCash dividends	Cash dividends
Net cash flows from financing activities		fill in the blank 21
DepreciationNet decrease in cashNet incomeNet increase in cashNet lossNet increase in cash		$Net increase in cash
Cash balance, January 1, 20Y3		fill in the blank 24
Cash balance, December 31, 20Y3		$fill in the blank 25