Use the following excerpts from Victrolia Company's financial information. 2018 Income Statment Balance Sheets Sales Cost of Goods Sold $475,000 (221,500) Operating Expenses, other than Depreciation Expense (59,600) (24,000) Depreciation Expense Gain on Sale of Plant Assets 23,500 Net Income $193,400 Dec. 31,2018 Cash $352,450 39,750 Accounts Receivable Inventory Accounts Payable 34,000 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 36,500 35,000 Accounts Receivable Inventory Accounts Payable Accured Liabilities 19,550 2,200 Additional Information: Plant assets were sold for $50,000; book value $16,500 AMANDA Dividends of $22,000 were declared and paid Prepare a statement of cash flows (direct method for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments Victrolia Company Statement of Cash Flows (Direct Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Cash Collected from Customers 471.750 Cash Payments: To Suppliers of Inventory 222.500 X To Vendors for Operating Expenses X Net cash flows from operating activities Cash Flow from Investing Activities: Proceeds from Sale of Plant Assets 50,000 Net Cash Flow from Investing Activities 0,4 ) | Cash Flow from Financing Activities: Dividends Paid 22,000 Net Cash Flow from Financing Activities -22.000 Total Cash Flow Increase X Cash Balance, December 31, 2017 Cash Balance, December 31, 2018