aluc 15.00 points PB12-4 Preparing and Interpreting a Statement of Cash Flows (Indirect Method) [LO 12-2. LO 12-3. LO 12-4. LO 12-5] Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement are presented below. Current Previous Year Year Balance Sheet at December 31 $3,200 $4,000 500 50 Cash 1,000 Prepaid Expenses 100 4,300 $4,550 Salaries and $350 $1,100 1,200 1,000 Retained Earnings ,750 2,450 $ 4,300 $4,550 Wages Payable Common Stock Income Statement Service Revenue $33,950 30,000 Other Operating3,650 Salaries and Wages Expense Net Income $ 300 Additional Data a. Prepaid Expenses relate to rent paid in advance b. Other Operating Expenses were paid in cash. C. An owner contributed capital by paying $200 cash in exchange for the company's stock. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) DIVE IN COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Cash Flows Used in Investing Activities Cash Flows from Financing Activities