CC12-1 (Static) 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 $2,300. The company reported the following activities: a. Increase in inventory of $400. b. Depreciation of $3,000. c. Increase of $2,170 in prepaid expenses. d. Payments of $4,600 on long-term debt. e. Purchased new spa equipment for $7,582. t Payments on accounts payable exceeded purchases by $320. g. Collections on accounts receivable exceeded credit sales by $859. 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 $7,000. (Amounts to be deducted shguld be indicated with a minus sign.) casn daiance at the deginning or the year was sh,vuU. (Amounts to be deaucteo snouid be maicatea wrin a minus sign.)