The financial statements for Nackawic Inc. are below. Nackawic Inc. Balance Sheet December 31 Assets Current Year Prior Year Cash Accounts Receivable Inventories Available-for-sale securities Property, Plant & Equipment Accumulated Amortization Total Assets $92,700 90,800 121,900 84,500 290,000 (49.500) $630.400 $47.250 37,000 102,650 107,000 205,000 (40.000) $458.900 Liabilities & Shareholder's Equity. Accounts Payable Accrued Expenses Payable Notes Payable Common Shares Retained Earnings Total Liabilities & Shareholder's Equity $52,700 12,100 140,000 250,000 175.600 $630,400 $48,280 18,830 70,000 200.000 121.790 $458.900 Nackawic Inc. Statement of Earnings Year Ended December 31, Current Year Nackawic Inc Statement of Earnings Year Ended December 31. Current Year Revenues Sales $297,500 Gain on sale of equipment 8.750 306,250 Expenses Cost of Goods Sold $99,460 Amortization Expense 58,700 Operating Expenses 14,670 Interest Expense 2,940 Loss on sale of available-for-sale securities 7.500 183.270 Earnings before income taxes 122,980 Income tax expense 32.670 Net earnings $90.310 Additional information: 1. Available-for-sale securities were sold for $15,000, resulting in a loss of $7,500. 2. New equipment costing $141.000 was purchased for cash during the year. 3. Equipment costing $56,000 was sold for $15,550, resulting in a gain of $8.750. 4. Accounts Payable relate only to merchandise suppliers. Required: Prepare a complete cash flow statement using the direct method. Paragraph B