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The following changes took place last year in Pavolik Company's balance sheet accounts Liabilities and Stockholders' Equity Accounts Asset and Contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expense:s Long-term investments Property, plant, and equipment Accumulated depreciation 29 D Accounts payable 33I Accrued liabilities 76 D Income taxes payable $ 28I Bonds payable 30 D Common stock $530 I Retained earnings $109 I $ 89 I $ 33 D $ 38 I $276 I $132 D 109 I D - Decrease Increase Long-term investments that cost the company $30 were sold during the year for $64 and land that cost $63 was sold for $33. In addition, the company declared and paid $27 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 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items $1,290 572 718 510 208 $(30) 34 Loss on sale of land Gain on sale of investmentsS Income before taxes Income taxes Net income 4. 212 76 $ 136 The company's beginning cash balance was $146 and its ending balance was $117 Required 1. Use the indirect method to determine the net cash provided by operating activities for the year 2. Prepare a statement of cash flows for the year

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