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GolfGear & More, Incorporated is a regional and online golf equipment retailer. The company reported the following for the current year: Purchased a long-term investment

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GolfGear \& More, 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, $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. Required: 1. Complete a T-account worksheet. 2. Based on the T-account worksheet, prepare the statement of cash flows for the current year. Complete this question by entering your answers in the tabs below

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