The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and contra-set Accounts Liabilities and Stockholders' Equity Accounts Cash $ 22 D Accounts payable $ 68 I Accounts receivable $ 261 Accrued liabilities $ 26 D Inventory $ 62 D Income taxes payable $ 31 1 Prepaid expenses $ 211 Bondis payable $ 2201 Long-term investments $ 23 D Common stock $ 104 D Property, plant, and equipment $ 425 1 Retained earnings $ 881 Accumulated depreciation $ 881 D =Decrease; Increase Long-term investments that cost the company $23 were sold during the year for $50 and land that cost $49 was sold for $26. In addition, the company declared and paid $20 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 company's income statement for the year follows: $1,080 474 606 440 166 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 ) $(23) 27 4 170 62 108 $ The company's beginning cash balance was $132 and its ending balance was $110. 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