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

Asset and Contra-Asset Accounts				Liabilities and Stockholders' Equity Accounts
Cash	$	23	D	Accounts payable	$	71	I
Accounts receivable	$	27	I	Accrued liabilities	$	27	D
Inventory	$	64	D	Income taxes payable	$	32	I
Prepaid expenses	$	22	I	Bonds payable	$	228	I
Long-term investments	$	24	D	Common stock	$	108	D
Property, plant, and equipment	$	440	I	Retained earnings	$	91	I
Accumulated depreciation	$	91	I

D = Decrease; I = Increase.

Long-term investments that cost the company $24 were sold during the year for $52 and land that cost $51 was sold for $27. In addition, the company declared and paid $21 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					$	1,110
Cost of goods sold						488
Gross margin						622
Selling and administrative expenses						450
Net operating income						172
Nonoperating items:
Loss on sale of land	$	(24	)
Gain on sale of investments		28				4
Income before taxes						176
Income taxes						64
Net income					$	112

The companys beginning cash balance was $134 and its ending balance was $111.

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.