Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted, net cash outflows, and decreases in cash.) Miguel Interiors Statement of Cash Flows (Direct Method) Operating Activities: For the Year Ended December 31 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 < Miguel Interiors began the year with cash of $53,000. During the year, Miguel Interiors earned service revenue of $412,000. Cash collections for the year were $370,000. Expenses for the year were $370,000, with $355,000 of that total paid in cash. The company also used cash to purchase equipment for $75,000 and to pay a cash dividend to stockholders of $34,000. During the year, the company $56,000 cash by issuing a long-term note payable. Requirement Prepare the company's statement of cash flows using the direct method. also borrowed