The following changes took place Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Cash and cash equivalents recounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liabilities and Stockholders' Equity Accounts Accounts payable Accrued liabilities Income taxes payable Bonds payable $150 I Common stock $ 80 D Retained earnings D = Decrease; 1 - Increase Long term investments that cost the company $6 were sold during the year for $16 and land that cost $15 was sold for $9. In addition, the company declared and paid during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during not retire any bonds during the year or issue any new common stock. The company's income statement Sales Cost of goods sold Gross margin Selling and administrativ Net operating income Nonoperating items Loss on sale of land Cais on sale of investmen Income before taxes Income taxes Set inc The company's beginning cash balance was $90 and its ending balance was $85. 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. The company's beginning cash balance was $90 and its ending balance was $85. 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. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Pavolik Company Statement of Cash Flows Operating activities: Net cash provided by operating activities Investing activities: Proceeds from sale of land $ (6X Proceeds from sale of long-term 10% investments Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents