The following information was taken from the records of Grimes Pools. Prepare a statement of cash flows (direct method) for the period ending December 31, 1997. Assume that all transac¬ tions involve cash. 1997 1996 Cash $ 4,000 $ 6,000 Noncash operating assets 15,000 15,000 Nonoperating assets 20,000 28,000 Operating liabilities 2,000 8,000 Nonoperating liabilities 6,000 4,000 Contributed capital 26,000 30,000 Retained earnings 5,000 7,000 Revenues 35,000 Expenses 34,000 Dividends 3,000