BGP Electrical Supply 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 Accounts payable Accrued wages expense Note payable, long-term Common stock and additional paid-in capital Retained earnings $ 39,300 35,900 42,000 125, 200 (33,700) $208, 700 $ 40, 100 3,400 47,100 94,000 24,100 $208, 700 $ 31,400 31,500 40,300 102,500 (27,000) $ 178, 700 $ 31,200 3,800 55,600 74,600 13,500 $ 178, 700 Income statement for current year Sales Cost of goods sold Other expenses Net income $136,000 86,000 39,400 $ 10,600 Additional Data: a. Bought equipment for cash, $22,700. b. Paid $8,500 on the long-term note payable. c. Issued new shares of stock for $19,400 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $6,700; wages, $20,300; taxes, $6,300; other, $6,100. f. Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. BGP ELECTRICAL SUPPLY 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: 0 0 Cash flows from investing activities: 0 Cash flows from financing activities: 0