2-4 Preparing and Interpreting a statement of Cash Flows (Indirect Method) ILO 12-2. L?12-3. LO 12-4, LO 12-5] Soft Touch Company was started several years ago by two gof instructors. The company's comparative balanoe sheets and income statement are presented below, along with additional 14100 9250 Retained Eains 26 650 22250 TT 0O0 Salaries and Wages Expense s 3.450 Additional Data: Bought new golf clubs using cash, $1,200. Borrowed $2,500 cash from the bank during the year Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that Income Tax Expense was fully paid in cash. Required: Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign) Statement of Cash Cash Flows froe Operaling Ativies Peovided by Openating Activities Cash Flows from Investing Acvies Cash Flows ro nancing Activies