E$12-23($Algo$)($Supplement $12$B$)$ Preparing a Statement of Cash Flows, Indirect Method: T$-$Account Approach $[$LO $12-$S$2]$

Golf Goods Incorporated is a regional and online golf equipment retailer. The company reported the following for the current year:

Purchased a long$-$term investment for cash, $$11,500.$

Paid cash dividend, $$13,400.$

Sold equipment for $$5,300$ cash $($cost$,$ $$19,600$; accumulated depreciation, $$14,300).$

Issued shares of no$-$par stock, $430$ shares at $$10$ cash per share.

Net income was $$19,500.$

Depreciation expense was $$2,300.$

Its comparative balance sheet is presented below.

$\backslash$table$[[,\backslash$table$[[$Ending$],[$Balances$]],\backslash$table$[[$Beginning$],[$Balances$]]],[$Cash$,$$$22,350,$$$26,050],[$Accounts receivable,$21,300,21,300],[$Inventory$,75,700,67,300],[$Investments$,11,500,0],[$Equipment$,94,200,113,800],[$Accumulated Depreciation$-$Equipment,$(19,300),(31,300)],[,$ Total,$$205,750,$$$197,150],[$Accounts payable,$$18,100,$$$20,400],[$Salaries and wages payable,$2,350,4,200],[$Income taxes payable,$6,200,3,850],[$Notes payable $($long$-$term$),50,500,50,500],[$Common stock,$104,300,100,000],[$Retained earnings,$24,300,18,200],[,$ Total,$$205,750,$$$197,150]]$

Required:

Complete the T$-$account worksheet to be used to prepare the statement of cash flows for the current year.

Based on the T$-$account worksheet, prepare the statement of cash flows for the current year in proper format.

Complete this question by entering your answers in the tabs below.

Cash T

Other T

Stmt of Cash

Account Accounts Flows

Complete the T$-$account worksheet to be used to prepare the statement of cash flows for the current year.