To prepare the statement of cash flows, accountants for Bear Electric Company have summarized 2018 activity in two accounts: (Click the icon to view the transaction data.) Bear Electric's 2018 income statement and balance sheet data follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet data.) Read the requirements. Requirement 1. Prepare the statement of cash flows of Bear Electric Company for the year ended December 31, 2018, using the direct method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities. Start by completing the cash flows from operating activities using the direct method. Then complete the statement of cash flows and the accompanying schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Bear Electric Company Statement of Cash Flows (Direct Method) Year Ended December 31, 2018 Cash flows from operating activities: Receipts: Income Statement Year Ended December 31, 2018 Revenues: Sales revenue $ 688,900 71,400 Dividend revenue Total revenue 760,300 Expenses and losses: Cost of goods sold $ 426,700 148, 100 Salary and wage expense Depreciation expense Other operating expense 19,400 45,800 Interest expense 28,900 DIVIUUNU TUTTUU Total revenue 760,300 Expenses and losses: Cost of goods sold $ 426,700 148, 100 Salary and wage expense Depreciation expense Other operating expense 19,400 45,800 Interest expense 28,900 Income tax expense 17,300 19,700 Loss on sale of investments Total expenses and losses 705,900 $ 54,400 Net income Cash 446,000 27,800 Beginning bal Sale of long-term investment Collections from customers Issuance of common stock Receipts of dividends 140,000 26,600 53,600 Payments on accounts payable 21,300 Payments of dividends 661,700 Payments of salaries and wages 47,500 Payments of interest 71,400 Purchase of equipment Payments of other operating expenses Payment of long-term note payable Purchase of treasury stock Payment of income tax 31,200 34,600 41,600 19,000 19,300 Ending Bal 69,400 Bear Electric Company Selected Balance Sheet Data December 31, 2018 Increase (Decrease) Current assets: Cash and cash equivalents $ 15,800 27,200 Accounts receivable Inventories Prepaid expenses Land Equipment. net . 11,600 (300) 51,000 11.800 11,800 Equipment, net Long-term investments Current liabilities: (41,000) (7,700) Accounts payable Interest payable 2,300 8,100 Salary payable Other accrued liabilities 10,900 Income tax payable (2,000) (61,600) Long-term note payable Common stock 118,500 Retained earnings 26,600 Treasury stock 19,000 Bear Electric Company Statement of Cash Flows (Direct Method) Year Ended December 31, 2018 Cash flows from operating activities: Receipts: Total cash receipts Payments: Total cash payments Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash I MILI Noncash investing and financing activities: Noncash investing and financing activities: Total noncash investing and financing activities Requirement 2. Use Bear Electric's 2018 income statement and information from its selected balance sheet data to arentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Bear Electric Company Partial Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: net cash provided by operating activities: Net cash provided by (used for) operating activities