Heads Up Company was started several years ago by two bockey instructors. The company's comparative balance sheets and income stotement follow, along with additional information. Additional Data: a. Bought new hockey equipment for cash, 5490 . 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 telating to income tax, assume that this expense was fully peid in cath. 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 was started several years ago by two bockey instructors. The company's comparative balance sheets and income stotement follow, along with additional information. Additional Data: a. Bought new hockey equipment for cash, 5490 . 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 telating to income tax, assume that this expense was fully peid in cath. 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.)