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During a recent year, Nicoles Getaway Spa (NGS) reported net income of $2,950. The company reported the following activities: Increase in inventory of $370. Depreciation

During a recent year, Nicoles Getaway Spa (NGS) reported net income of $2,950. The company reported the following activities:

Increase in inventory of $370.

Depreciation of $2,700.

Increase of $2,140 in prepaid expenses.

Payments of $4,300 on long-term debt.

Purchased new spa equipment for $7,552.

Payments on accounts payable exceeded purchases by $290.

Collections on accounts receivable exceeded credit sales by $829.

Issued $11,000 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 $6,700. (Amounts to be deducted should be indicated with a minus sign.)

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