Using the following information, complete the statement of cash flows for National Foods for the year ended December 31, 2008. Place parentheses around those figures in the statement representing cash outlays.

Proceeds from sale of marketable securities	$140,000
Purchase of land	(230,000)
Proceeds from sale of land	105,000
Net cash provided by investing activities	$15,000
Grants income statement for 2009 includes the following
Loss on sale of marketable securities	$27,000
Gain on disposal of land	45,000

NATIONAL FOODS

Statement of Cash Flows

For the Year Ended December 31, 2008

Cash flows from operating activities (direct method):

Cash received from customers:

Cash provided by operating activities:

Cash disbursed for operating activities:

Net cash flows from operating activities:

Cash flows from investing activities:

Net cash used by investing activities:

Cash flows from financing activities:

Net cash provided by financing activities:

Net increase (decrease) in cash:

Cash and cash equivalents, beginning of year.

Cash and cash equivalents, end of year