The following are comparative balance sheets and an income statement for Wentworth Company. Wentworth Company Balance Sheets as of December 31 2021 2020 $ 21,500 $ 120,000 195,000 180,000 105,000 225,000 Cash Accounts receivable Inventory Long-term investments Total assets Liabilities and shareholders' equity Accounts payable Operating expenses payable Bonds payable Common stock Retained earnings 0 $ 396,500 $ 75,000 24,000 70,000 125,000 102,500 60,000 $ 510,000 $ 120,000 15,000 100,000 125,000 150,000 Totals Wentworth Company Income Statement For the Year Ended December 31, 2021 Sales Cost of goods sold: Beginning inventory Purchases Less: ending inventory Cost of goods sold Goods available for sale Gross profit Operating expenses Income from operations Other expenses: Loss on sale of long-term investment Net loss $ 396,500 $ 510,000 $560,000 $225,000 330,000 555,000 180,000 375,000 185,000 180,000 5,000 (7,500) $ (2,500) Cash dividends of $45,000 were paid in 2021. Required: Prepare a statement of cash flows for 2021 using the direct method. (Amounts to be deducted should be indicated with a minus sign.) WENTWORTH COMPANY Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Cash inflows: From customers Cash outflows: For operating expenses Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 Cash balance, December 31