3. Vuer 33.34 points XS Supply Company is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Prior Year Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation S34,600 36.000 41.000 122.300 (31,400) $ 202,500 S 37.300 $ 29,000 29,100 38,600 101.000 (25,500 $172.200 $ 28,400 2200 53.000 73,300 15,300 $172,200 Accounts payable Wages payable Note payable, long-berm Contributed capital. 90.100 28.000 Retained earmings $ 202,500 Income statement for current year Sales $125,000 2.000 Gain on sale of equipment Cost of goods sold Other expenses Net income 75,000 39,300 S12,700 Additional data: a. Bought equipment for cash, $34,300. Sold equipment with original cost of $13,000, accumulated depreciation of $9,000, for $6,000 cash b. Paid $7,900 on the long-term note payable. c. Issued new shares of stock for $16,800 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $14,900, wages, $13,500; taxes, $6,900; and other, $4,000. f. Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that thes fully paid in cash. Required: XS SUPPLY COMPANY Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities: Cash fows from investing activities Cash fows from financing activities