The following changes took place last year in Pavolik Companys balance sheet accounts:

Asset and Contra-Asset Accounts				Liabilities and Stockholders' Equity Accounts
Cash and cash equivalents	$	31	D	Accounts payable	$	95	I
Accounts receivable	$	35	I	Accrued liabilities	$	35	D
Inventory	$	80	D	Income taxes payable	$	40	I
Prepaid expenses	$	30	I	Bonds payable	$	292	I
Long-term investments	$	32	D	Common stock	$	140	D
Property, plant, and equipment	$	560	I	Retained earnings	$	115	I
Accumulated depreciation	$	115	I

D = Decrease; I = Increase.

Long-term investments that cost the company $32 were sold during the year for $68 and land that cost $67 was sold for $35. In addition, the company declared and paid $29 in cash dividends during the year. 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 during the year or issue any new common stock.

The companys income statement for the year follows:

Sales					$	1,350
Cost of goods sold						600
Gross margin						750
Selling and administrative expenses						530
Net operating income						220
Nonoperating items:
Loss on sale of land	$	(32	)
Gain on sale of investments		36				4
Income before taxes						224
Income taxes						80
Net income					$	144

The companys beginning cash balance was $150 and its ending balance was $119.

Required:

1. Prepare a statement of cash flows for the year.