The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expenses Long-term Investments Property, plant, and equipment Accumulated depreciation $ 34 D $ 38 1 $ 860 $ 331 $ 35 D $605 I $1241 Liabilities and Stockholders' Equity Accounts Accounts payable $1841 Accrued liabilities $ 38 0 Income taxes payable $ 431 Bonds payable $3161 Common stock $152 D Retained earnings $ 124 1 D=Decrease: 1 = Increase. Long-term Investments that cost the company $35 were sold during the year for $74 and land that cost $73 was sold for $38. In addition, the company declared and paid $32 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: $1,440 642 798 560 238 Sales Cost of goods sold Gross margin Selling and administrative expenses Met operating income Nonoperating itens: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net Income $(35 39 242 BG 150 3 The company's beginning cash balance was $156 and its ending balance was 5122 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. Required R2 Prepare a statement of cash flows for the year. List any deduction in cash and cash out as negative amounts. Pavolik Company Statement of Cash Flows Operating activities NA 98 provided by operate activities THvasting activities Gesale of that Garole of and 3 400