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	$	40,100			$	32,000
Accounts receivable		37,000				32,200
Merchandise inventory		43,000				41,100
Property and equipment		126,200				103,500
Less: Accumulated depreciation		(34,800	)			(27,600	)
	$	211,500			$	181,200
Accounts payable	$	40,800			$	32,300
Accrued wages expense		3,800				4,300
Note payable, long-term		48,300				56,700
Common stock and additional paid-in capital		95,500				75,000
Retained earnings		23,100				12,900
	$	211,500			$	181,200
Income statement for current year
Sales	$	140,000
Cost of goods sold		90,000
Other expenses		39,800
Net income	$	10,200

Additional Data:

1. Bought equipment for cash, $22,700.
2. Paid $8,400 on the long-term note payable.
3. Issued new shares of stock for $20,500 cash.
4. No dividends were declared or paid.
5. Other expenses included depreciation, $7,200; wages, $20,200; taxes, $6,700; other, $5,700.
6. 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.

Required:

1. Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.)