Golf Universe is a regional and online golf equipment retailer. The company reported the following for the current year:

Purchased a long-term investment for cash, $15,000.

Paid cash dividend, $12,000.

Sold equipment for $6,000 cash (cost, $21,000, accumulated depreciation, $15,000).

Issued shares of no-par stock, 500 shares at $12 cash per share.

Net income was $20,200.

Depreciation expense was $3,000.

Its comparative balance sheet is presented below.

Required:
1. Following Supplement 12B, complete a T-account worksheet to be used to prepare the statement of cash flows for the current year.
2. Based on the T-account worksheet, prepare the statement of cash flows for the current year in properformat.

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Balances Balances 12/31/2013 12/31/2012 $19,200 22,000 75,000 15,000 93,500 (20,000) $204,700 $ 14,000 1,500 4,500 54,000 106,000 24,700 $204,700 $20,500 22,000 68,000 as Investments 114,500 (32,000) $193,000 17,000 2,500 3,000 54,000 100,000 16,500 $193,000 Accumulated depreciation.. 5 Total Accounts payable Wages payable. Income taxes payable.. Notes payable... Contributed capital... Retained earnings 2 Total