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Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc, for December 31,20 , 6 and 20 y 5 . Is as fallnwice 5 more Check My Work uses remaining. 20Y6 are as follows: Additional data obtained from an examination of the accounts in the ledger for 20 Y 6 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $77,260 cash. d. The common stock was issued for cash. e. There was a $20,400 deblt to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the direct method of presenting cash flows from (used for) operating activities, Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. 5 more Check. My Work uses remaining. 5 more Check My Work uses remaining. Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc, for December 31,20 , 6 and 20 y 5 . Is as fallnwice 5 more Check My Work uses remaining. 20Y6 are as follows: Additional data obtained from an examination of the accounts in the ledger for 20 Y 6 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $77,260 cash. d. The common stock was issued for cash. e. There was a $20,400 deblt to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the direct method of presenting cash flows from (used for) operating activities, Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. 5 more Check. My Work uses remaining. 5 more Check My Work uses remaining