The comparative balance sheet of Juras Equipment Co. for Dec. 31, 2013 and 2012, is:

The income statement for the year ended December 31, 2013, is as follows:

The following additional information was taken from the records:a. Equipment and land were acquired for cash.b. There were no disposals of equipment during the year.c. The investments were sold for $129,600 cash.d. The common stock was issued for cash.e. There was a $144,000 debit to Retained Earnings for cash dividends declared.InstructionsPrepare a statement of cash flows, using the direct method of presenting cash flows from operating activities.

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Dec. 31, 2013 Dec. 31, 2012 Assets $ 67,680 $ 99,840 Cash Accounts receivable (net). 292,560 265,680 Inventories .. 421,440 409,200 Investments... 144,000 Land.... 417,600 505,440 Equipment... 619,200 Accumulated depreciation (139,920) (119,040) $1,272,960 $1,710,720 Liabilities and Stockholders' Equity $ 290,400 $ 274,080 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable... Common stock, $1 par.. 43,200 37,920 36,000 28,800 162,000 144,000 Paid-in capital in excess of par-common stock Retained earnings... 288,000 594,000 585,120 $1,710,720 500,160 $1,272.960