Edit View HlstoryBookmarks Tools Window Help Help Save &ExitSubmit Exercise 14-4 Prepare a Statement of Cash Flows [LO14-1, LO14-2) The following changes took place last year in Pavolilk Company's balance sheet accounts: 20 D Aocounts payable $ 241 Accrued liabilities s 24 D s 29 I 204 1 96 D 82 T kocounta receivable Prepaid expenses tong-term i Property, plant, and equipment395 keeumalated depreeiation 21 D Common atock Retained earnings t 82 1 D- Decrease; 1 - Increase Long-term Investments that cost the company $21 were sold during the year for $46 and land that cost $45 was sold for $24. In addition, the company declared and paid $18 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock The company's income statement for the year follows: $1,020 Cost of goode sold sargin Belling and administrative expenses Net operating income Nonoperating itema MacBook Pro 80 5 8 9