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Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement follow, along with additional information.

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Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement follow, along with additional information. Additional Dota: a Bought new hockey equipment for cash, $570. b. Borrowed $1,000 cash from the bank during the year. c. Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that this expense was fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows For the Year Ended December 31 \begin{tabular}{|l|l|} \hline Cash Flows from Operating Activities: \\ \hline Adjustments to Reconcile Net Income to Net Cash Provided by \\ Operating Activities: \\ \hline Changes in Current Assets and Current Liabilities & \\ \hline \end{tabular}

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