Use the following excerpts from Victrolia Companys financial information. 2018 Income Statment Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (24,000) Gain on Sale of Plant Assets 23,500 Net Income $172,400 Dec. 31,2018 Cash $328,450 Accounts Receivable 39,750 Inventory 30,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $24,000 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 $Cash Collected from Customers Cash Payments: To Suppliers of Inventory $To Suppliers of Inventory To Vendors for Operating Expenses To Vendors for Operating Expenses To Vendors for Operating Expenses Net cash flows from operating activities $fill in the blank 8 Cash Flow from Investing Activities: Proceeds from Sale of Plant Assets $Proceeds from Sale of Plant Assets 45,000 Net Cash Flow from Investing Activities fill in the blank 11 Cash Flow from Financing Activities: Dividends Paid $Dividends Paid 24,000 Net Cash Flow from Financing Activities fill in the blank 14 Total Cash Flow Increase $Total Cash Flow Increase Cash Balance, December 31, 2017 fill in the blank 17 Cash Balance, December 31, 2018 $fill in the blank 18

Use the following excerpts from Victrolia Company's financial information