12. value: 2.00 points During a recent year, Nicole's Getaway Spa (NGS) reported net income of $2,550. The company reported the following activities: a. Increase in inventory of $450. b. Depreciation of $3,500. c. Increase of $2,220 in prepaid expenses. d. Payments of $5,100 on long-term debt. e. Purchased new spa equipment for $7,632. f. Payments on accounts payable exceeded purchases by $370. g. Collections on accounts receivable exceeded credit sales by $909. h. Issued $12,000 of common stock. Chapter 12 Homework B Required: Based on this information, prepare a statement of cash flows for the year ended December 31 using the indirect method. Assume the cash balance at the beginning of the year was $7,500. (Amounts to be deducted should be indicated with a minus sign.)