The following changes took place last year in Pavolik Company$$s balance sheet accounts:

Asset and Contra$-$asset Accounts Liabilities and Stockholders' Equity Accounts

Cash and cash equivalents $ $28$ D Accounts payable $ $86$ I

Accounts receivable $ $32$ I Accrued liabilities $ $32$ D

Inventory $ $74$ D Income taxes payable $ $37$ I

Prepaid expenses $ $27$ I Bonds payable $ $268$ I

Long$-$term investments $ $29$ D Common stock $ $128$ D

Property, plant, and equipment $ $515$ I Retained earnings $ $106$ I

Accumulated depreciation $ $106$ I

D $=$ Decrease; I $=$ Increase.

Long$-$term investments costing $$29$ were sold for $$62$ and land costing $$61$ was sold for $$32.$ In addition, the company paid $$26$ in cash dividends. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds or issue common stock.

The company$$s income statement for the year follows:

Sales $ $1,260$

Cost of goods sold $558$

Gross margin $702$

Selling and administrative expenses $500$

Net operating income $202$

Nonoperating items:

Loss on sale of land $ $(29)$

Gain on sale of investments $334$

Income before taxes $206$

Income taxes $74$

Net income $ $132$

The company$$s beginning cash balance was $$144$ and its ending balance was $$116.$

Required:

Use the indirect method to determine the net cash provided by operating activities.

Prepare a statement of cash flows.