CC12-1 (Algo) Accounting for Cash Flows [LO 12-2, LO 12-3, LO 12-4, LO 12-5] During a recent year, Nicole's Getaway Spa (NGS) reported net income of $3,200. The company reported the following activities: a. Increase in inventory of $320 b. Depreciation of $2,200. c. Increase of $2,090 in prepaid expenses. a. Payments of $3,800 on long-term debt. c. Purchased new spa equipment for $7,502. Payments on accounts payable exceeded purchases by $240. g. Collections on accounts receivable exceeded credit sales by $779. h. Issued $10,000 of common stock. Required: Based on this information, prepare a statement of cash flows for the year ended December 31 using the indirect method. Assume the Cash balance at the beginning of the year was $6,200. (Amounts to be deducted should be indicated with $ minused. Assume the Required: Gased on this information, prepare a statement of cosh flows for the year ended December 3t using the indirect method. Assume the Eash balance at the beginning of the year was $6,200. (Amounts to be deducted should be indicated with a minus sign.)