Gadadhars sports company reported the following information for the current year:

Purchased a long-term investment for cash, $15,600. Paid cash dividend, $12,100. Sold equipment for $6,500 cash (cost, $22,000, accumulated depreciation, $15,500). Issued shares of no-par stock, 600 shares at $10 per share cash. Net income was $20,700. Depreciation expense was $3,100. Its comparative balance sheet is presented below:

Balances 31 Dec Current YearBalances 31 Dec Prior YearCash19,50020,900Accounts receivable23,00023,000Merchandise inventory75,60068,500Investments 15,6000Equipment93,000115,000Accumuilated depreciation(19,700)(32,100)Total207,000195,300Accounts payable14,10017,500Wages payable1,6002,700Income taxes payable4,7003,100Notes payable55,00055,000Share capital106,000100,000Retained earnings25,60017,000Total207,000195,300

Prepare the statement of cash flows for the current year in proper format using indirect method. Show the workings in the space provided.

Gadadhar's sports company reported the following information for the current year: Purchased a long-term investment for cash, $15,600. Paid cash dividend, $12,100. Sold equipment for $6,500 cash (cost, $22,000, accumulated depreciation, $15,500). Issued shares of no-par stock, 600 shares at $10 per share cash. Net income was $20,700. Depreciation expense was $3,100. Its comparative balance sheet is presented below: Balances Balances 31 Dec 31 Dec Current Year Prior Year Cash 19,500 20,900 Accounts receivable 23,000 23,000 Merchandise inventory 75,600 68,500 Investments 15,600 10 Equipment 93,000 115.000 Accumuilated depreciation (19,700) (32,100) Total 207,000 195,300 Equipment 93,000 115,000 Accumuilated depreciation (19,700) (32,100) Total 207,000 195,300 Accounts payable 14,100 17,500 Wages payable 1,600 2,700 Income taxes payable 4,700 B,100 Notes payable 55,000 55,000 Share capital 106,000 100,000 Retained earnings 25,600 17,000 Total 207,000 195,300 Prepare the statement of cash flows for the current year in proper format using indirect method. Show the workings in the space provided. You do not need to prepare ledger accounts, but we have provided space so that you may prepare them if you wish to prepare them to calculate some figures