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

	Current Year			Previous Year
Balance Sheet at December 31
Cash	$	6,300		$	4,400
Accounts Receivable		950			1,850
Equipment		6,050			5,500
Accumulated DepreciationEquipment		(1,600	)		(1,300	)
Total Assets	$	11,700		$	10,450
Accounts Payable	$	650		$	1,200
Salaries and Wages Payable		450			750
Note Payable (long-term)		1,600			500
Common Stock		5,500			5,500
Retained Earnings		3,500			2,500
Total Liabilities and Stockholders Equity	$	11,700		$	10,450
Income Statement
Service Revenue	$	38,500
Salaries and Wages Expense		36,000
Depreciation Expense		300
Income Tax Expense		1,200
Net Income	$	1,000

Additional Data:

1. Bought new hockey equipment for cash, $550.
2. Borrowed $1,100 cash from the bank during the year.
3. 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 should be indicated with a minus sign.)