Statement of Cash FlowsDirect Method applied to PR 16-1A

The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows:

	Dec. 31, 20Y3			Dec. 31, 20Y2
Assets
Cash	$ 209,270			$ 196,080
Accounts receivable (net)	76,200			69,910
Inventories	214,790			206,530
Investments	0			80,360
Land	110,090			0
Equipment	234,730			184,830
Accumulated depreciation-equipment	(55,800)			(49,800)
Total assets	$789,280			$687,910
Liabilities and Stockholders' Equity
Accounts payable	$ 142,300			$ 135,520
Accrued expenses payable	14,310			17,890
Dividends payable	7,800			6,200
Common stock, $1 par	42,000			32,330
Paid-in capital: Excess of issue price over par-common stock	160,000			93,560
Retained earnings	422,870			402,410
Total liabilities and stockholders equity	$789,280			$687,910

The income statement for the year ended December 31, 20Y3, is as follows:

Sales		$1,356,480
Cost of merchandise sold		834,240
Gross profit		$ 522,240
Operating expenses:
Depreciation expense	$ 6,000
Other operating expenses	442,210
Total operating expenses		448,210
Operating income		$ 74,030
Other income:
Gain on sale of investments		13,400
Income before income tax		$ 87,430
Income tax expense		34,970
Net income		$ 52,460

Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

1. The investments were sold for $93,760 cash.
2. Equipment and land were acquired for cash.
3. There were no disposals of equipment during the year.
4. The common stock was issued for cash.
5. There was a $32,000 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Navaria Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y3
Cash flows from operating activities:
	$
Net cash flow from operating activities		$
Cash flows from (used for) investing activities:
	$
Net cash flow used for investing activities
Cash flows from (used for) financing activities:
	$
Net cash flow from financing activities
		$
Cash at the beginning of the year
Cash at the end of the year		$