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, $$16,500.$

Paid cash dividend, $$11,400.$

Sold equipment for $$6,300$ cash $($cost$,$ $$21,600$; accumulated depreciation, $$15,300).$

Issued shares of no$-$par stock, $530$ shares at $$10$ cash per share.

Net income was $$20,500.$

Depreciation expense was $$3,300.$

Its comparative balance sheet is presented below.

Ending Balances Beginning Balances

Cash $ $21,050$ $ $22,750$

Accounts receivable $22,30022,300$

Inventory $74,70068,300$

Investments $16,5000$

Equipment $93,200114,800$

Accumulated Depreciation$$Equipment $(20,300)(32,300)$

Total $ $207,450$ $ $195,850$

Accounts payable $ $14,300$ $ $17,600$

Salaries and wages payable $1,6502,800$

Income taxes payable $4,8003,150$

Notes payable $($long$-$term$)55,50055,500$

Common stock $105,300100,000$

Retained earnings $25,90016,800$

Total $ $207,450$ $ $195,850$

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.