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 $ 33 D Accounts payable $1011 Accounts receivable 5 371 Accrued liabilities $ 37 D Inventory $ B4D Income taxes payable $ 421 Prepaid expenses $ 32 1 Bonds payable $308 1 Long-term investnents $ 34 D Common stock $148 D Property, plant, and equipment $590 I Retained earnings $1211 Accumulated depreciation $1211 D - Decrease increase. Long-term investments that cost the company $34 were sold during the year for $72 and land that cost $71 was sold for $37. In addition, the company declared and paid $31 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: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating itens: Loss on sale of land Gain on sale of investments Incone before taxes Income taxes Net incon $1,410 628 782 550 232 $(34) 38 236 84 152 The company's beginning cash balance was $154 and its ending balance was $121. 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 Required: 1. Use the indirect method to determine the net cash provided by operating activities for the yee 2. Prepare a statement of cash flows for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as ne Pavolik Company Statement of Cash Flows Operating activities: Net cash provided by operating activities Investing activities: $ 03 0 Financing activities 0 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0