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Statement of Cash Flows-Direct Method applied to PR 16-1A The comparative balance sheet of Navaria Inc. for December 31, 20Y3Liabilities and Stockholders Equity $ 161,620 $ 153,920 16,250 20,310 8,800 7,000 Accounts payable Accrued expenses payableOther income: Gain on sale of investments 15,200 Income before income tax $ 98,070 39,230 Income tax expense Net income $ 58,Required: Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Use

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