Current Year Previous Year Balance Sheet at December 31 Cash $ 34,240 $ 29,250 Accounts Receivable 35,200 28,100 Inventory 41,200 38,100 Equipment 122,500 101,000 Accumulated DepreciationEquipment (30,200 ) (25,100 ) $ 202,940 $ 171,350 Accounts Payable $ 36,200 $ 27,100 Salaries and Wages Payable 1,240 1,450 Note Payable (long-term) 38,900 45,000 Common Stock 89,200 72,700 Retained Earnings 37,400 25,100 $ 202,940 $ 171,350 Income Statement Sales Revenue $ 121,000 Cost of Goods Sold 70,500 Other Expenses 38,200 Net Income $ 12,300 Additional Data: a. Bought equipment for cash, $21,500. b. Paid $6,100 on the long-term note payable. c. Issued new shares of stock for $16,500 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $5,100; Salaries and wages, $20,100; taxes, $6,100; utilities, $6,900. 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. 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.)