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Required 1 Required 2 Use the indirect method to determine the net cash provided by operating activities for the year are to be deducted should be indicated with a minus sign.) Pavolik Company Statement of Cash Flows (partial) reyndar mm Required Required 2 > The following changes took place last year in Pavolik Company's balance sheet accounts: $ 5D $ 1101 $ 70 D Asset and Contra-Asset Accounts Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liabilities and Stockholders' Equity Accounts Accounts payable $ 35 1 Accrued liabilities $ 4D Income taxes payable $ 81 Bonds payable $ BOD Retained earnings $ 54 1 91 Bonde Laxd: payable stments $ 6D $185 I S 60 I $1851 Common stock D = Decrease: 1 = Increase. Long-term investments that cost the company $6 were sold during the year for $16 and land that cost $15 was s the company declared and paid $30 in cash dividends during the year. Besides the sale of land, no other sales and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new co The company's income statement for the year follows: $ 700 Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income ol The company's beginning cash balance was $90 and its ending balance was $85

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