GolfGear & More, Inc., is a regional and online golf equipment retailer. The company reported the following for the current year: Purchased a long-term investment for cash, $21,600. Paid cash dividend, $13,100. Sold equipment for $11,500 cash (cost, $32,000, accumulated depreciation, $20,500). Issued shares of no-par stock, 400 shares at $12 per share cash. Net income was $25,700. Depreciation expense was $4,100. Its comparative balance sheet is presented below. Balances Balances 12/31/Current 12/31/Prior Year Year Cash 21,300 24,900 Accounts 33,000 33,000 receivable Merchandise 81,600 73,500 inventory Investments 21,600 0 Equipment 88,000 120,000 Accumulated (16,700) (33,100) depreciation Total 228,800 218,300 Accounts $ 15,100 $ 22,500 payable Wages 2,600 4,700 payable Income taxes 6,700 4,100 payable Notes 65,000 65,000 payable Common stock and additional 104,800 100,000 paid-in capital Retained 34,600 22,000 earnings Total $ 228,800 $218,300 Required: 1. Complete a T-account worksheet. Cash Operating Investing Financing 2. Based on the T-account worksheet, prepare the statement of cash flows for the current year in proper format. (List cash outflows as negative amounts.) GOLFGEAR & MORE, INC., Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Changes in current assets and current liabilities: Cash flows from investing activities: Cash flows from financing activities