TUOTI mbes and Amount echiptions Dom on ONFROW Instructions The comparative balance sheet of Navaria Inc. for December 31, 2073 and 2072. is as follows: 1 Dec 31, 2013 Dec 31, 2012 Assets Cash $15500000 $150,000.00 Accounts receivable (net) Inventories 450,000.00 770,000.00 000 400,000.00 750,000.00 100,000.00 0.00 Investments 7 Land 500.000.00 1,400,000.00 (600.000.00 52.675.000.00 1.200,000.00 500,000.00 $2,100,000.00 Eqolomert Accumulated depreciation equipment 10 Tousses 11 Liabilities and Stockholders'Equity Accounts payable 11 Accrued expenses payable Dividends payable 1 Coron stock 84 par $500,000.00 50,000.00 $340,000.00 45,000.00 30,000.00 700,000.00 25,000.00 600,000.00 Label and Amount Descriptions Statement of Cash Flows Instructions Common stock, 54 par EX 700,000.00 600.000.00 17500000 200.000.00 15 Paid in Excess of issue price over par common stod Retained earnings Totat tables and stockholders equity 1.360,000.00 950.000.00 52.100.000.00 52.575.00000 The nicome statement for the year ended December 31, 2013, is as follows: 55,000,000.00 1,400,000.00 $1.600.000.00 Sales Cont of merchandise sold Gross profit Operating expenses Deprecation expense Other operating expenses Total penting opens Operating income Other income $100.000.00 950,000.00 1.050,000.00 5550,000.00 Instructions Other income: 10 Gain on sale of investments 75,000.00 13 Incore before income tax $625,000.00 11 Income tax expense 125,000.00 5500,000.00 11 Net income Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: A The investments were sold for $175,000 cash. B Equipment and land were acquired for cash. C. There were no disposals of equipment during the year, D. The common stock was issued for cash E. There was a $90,000 dobit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Be sure to complete the heading of the statement. Refer to me Labels and Amount Descriptivis net provided for the exact worting of the answer choices for hout entries. Use the minus sign to mocare cash out nows, cash payments, decreases in cash or aw negative adunt Instructions Labels and Amount Descriptions Statement of Cash Flows Labels and Amount Descriptions is shown as follows: Dec 31, 2015 Labels and Amount Descriptions Cash used for dividends Cash used for purchase of equipment Cash used for purchase of land Cash paid for purchase of treasury stock Cash payments for income taxes Cash payments for merchandise Cash payments for operating expenses Cash received from customers Cash from sale of common stock