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 Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Equipment Roculated Depreciation Equipment Total Assets hccounts Payable Salaries and Magen Payable Note Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders. Equity Tacone Statement Service Revenue Salaries and Wages Expense Depreciation Expense Income Tax Expenso Set Icon $ 6,120 860 5,060 11.420 $10,620 $ 740 540 1,600 4.600 3.140 $10,620 $ 4,040 1.670 4,600 (1.210) $ 9,100 $ 1,200 750 500 4.600 2,050 $9.100 $40,300 37.800 210 1.200 51,090 Additional Data: Pun now hnckey equipment for cash, $460 Additional Data: a. Bought new hockey equipment for cash, $460. b. Borrowed $1,100 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 direct method. (Amounts to be deducted should be indicated with a minus sign.) HEADS UP COMPANY Statement of Cash Flows For the Year Ended Decambor 31 Cash Flows from Operating Activities: Statement OT Las PIOWS For the Year Ended December 31 Cash Flows from Operating Activities: 0 Cash Flows from Investing Activities: es Cash Flows from Financing Activities: 0 $ 0