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 $ 29 0 Accounts payable $ 99 1 Accounts receivable $ 331 Accrued liabilities 5 33 0 Inventory $ 760 Income taxes payable $ 381 Prepaid expenses $ 281 Bonds payable $2761 Long-tern investments $ 30D Common stock 51120 Property, plant, and equipment $ 530 1 Retained earnings S109 1 Accumulated depreciation $ 109 1 D = Decrease; 1 = Increase Long-term investments that cost the company $30 were sold during the year for $64 and land that cost $63 was sold for 533. In addition, the company declared and paid $27 in cash dividends during the year. Besides the sale of land, no other sales of 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 company's income statement for the year follows: $1,290 572 718 510 208 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income $(30) 34 4 212 76 $ 136 The company's beginning cash balance was $146 and its ending balance was $117. Pavolik Company Statement of Cash Flows (partial) Statement of Cash Flows Operating activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents 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