Additional information from the accounting records:
During 2016, equipment with a cost of $300,000 (90% depreciated) was sold.
The statement of shareholders' equity reveals reductions of $225,000 and
$450,000 for stock dividends and cash dividends, respectively.
Prepare the statement of cash flows of Metagrobolize for the year ended December 31,
2016. Present cash flows from operating activities by the direct method. (You may
omit the schedule to reconcile net income to cash flows from operating activities.)