Data table Payment of long-term note payable Depreciation expense. Purchase of equipment with cash Purchase of treasury stock.. Gain on sale of land Cost of goods sold Proceeds from issuance of common stock Beginning balance, cash.. $ $ $ 4,000 Payments to employees 4,700 Proceeds from sale of land. 7,000 Payment of dividends 10,000 Payments to suppliers.. 1,400 Increase in salaries payable 110,000 Payment of income tax. 12,500 Collections from customers. 11,000 Sales revenue. $ 64,000 $ 40,500 $ 14,000 $ 63,000 $ 13,500 $ 11,500 $ 156,000 $ 166,000 Orange Groove Spas provides the following data for the year just ended on December 31. (Click the icon to view the data.) Prepare the statement of cash flows using the direct method. Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for net cash outflows.) Orange Groove Spas Statement of Cash Flows (Direct Method) For the Year Ended December 31 Operating Activities: Net cash provided by (used for) operating activities Investing Activities: Net cash provided by (used for) investing activities Net cash provided by (used for) operating activities Investing Activities: Net cash provided by (used for) investing activities Financing Activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year