The comparative balance sheets for 202 and 201 and the income statement for 202 are given below for Bowers Corporaion. Additional information from Bowers' accounting records is also provided. Hint: For purposes of the statement of cash flows, loss on sale of land is treated in a manner similar to depreciation expense. Both are non-cash items. Hint: For purposes of the statement of cash flows, loss on sale of land is treated in a manner similar to depreciation expense. Both are non-cash items. Additional information from the accounting records: a. Land that originally cost $17,000 was sold for $12,000. b. The common stock of Hawkeye Company was purchased for $27,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $130,000 cash. d. A $26,000 note was paid at maturity on January 1. e. On January 1,202, bonds were sold at their $52,000 face value. f. Common stock ($70,000 par) was sold for $90,000. g. Net income was $70,000 and cash dividends of $45,000 were paid to shareholders. h. All inventory purchases are on credit and all debits to accounts payable reflect cash payments for inventory. Required: Prepare the statement of cash flows for Bowers Corporation for the year ended December 31, 20x2. Present cash flows from operating activities using the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).)