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

The following changes took place last year in Pavolik Company's balance sheet accounts: Liabilities and Stockholders' Equity Accounts Asset and Contra-Asset Accounts Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment $185 I Retained earnings $ 5 D Accounts payable $110 I Accrued liabilities $ 70 D Income taxes payable $ 9I Bonds payable $6 D Common stock 35 I $ 4 D s 8 I $150 I 80 D $ 54 I Accumulated depreciation D = Decrease, l-Increase. Long-term investments that cost the company $6 were sold during the year for $16 and land that cost $15 was sold for $9. In ad $60 I the company declared and paid $30 in cash dividends during the year. Besides the sale of land, no other sales or retirements of pment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock The company's income statement for the year follows: $700 400 300 184 Sales Cost of goods sold Gross margin lling and administrative expenses Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $700 400 300 184 116 $ (6) Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income 36 $84 The company's beginning cash balance was $90 and its ending balance was $85. Required 1. Use the indirect method to determine the net cash provided by operating activities for the year 2. Prepare a statement of cash flows for the year Complete this question by entering your answers in the tabs below