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 $ 40,100 37,000 43,000 126,200 (34,800) $ 211,500 $ 40, 800 3,800 48,300 95,500 23,100 $ 211,500 $ 32,000 32,200 41,100 103,500 (27,600) $181,200 $ 32,300 4,300 56,700 75,000 12,900 $181,200 Accounts payable Accrued wages expense Note payable, long-term Common stock and additional paid-in capital Retained earnings Income statement for current year Sales Cost of goods sold Other expenses Net income $140,000 90,000 39,800 $ 10, 200 Additional Data: a. Bought equipment for cash, $22,700. b. Paid $8,400 on the long-term note payable. c. Issued new shares of stock for $20,500 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $7,200; wages, $20,200; taxes, $6,700; other, $5,700. 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. 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 flows from investing activities: Cash flows from financing activities