$-$ Additional Data:

a$.$ Bought new hockey equipment for cash, $$500.$

b$.$ Borrowed $$1,200$ cash from the bank during the year.

c$.$ 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 this expense was fully paid in cash.

Required:

Prepare the statement of cash flows for the current year ended December $31$ using the direct method. $($Amounts to

be deducted should be indicated with a minus sign.$)$