Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings 440 1,700 5,600 3,740 $ 6,420 960 6,160 (1,620) $ 11,920 $ 440 $ 4,240 1,870 5,600 (1,310) $ 10,400 $ 1,000 750 500 5,600 2,550 Total Liabilities and Stockholders' Equity $ 11,920 $ 10,400 Income Statement Service Revenue $ 38,700 36,200 Salaries and Wages Expense Depreciation Expense Income Tax Expense Net Income 310 1,000 $ 1,190 Additional Data: a. Bought new hockey equipment for cash, $560. b. Borrowed $1,200 cash from the bank during the year. c. Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that this expense was fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)