help please

eads Up Company was started several years ago by two hockey Instructors. The company's comparative balance sheets and income atement follow along with additional information Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Equipment Accumulated Depreciation Equipment Total Assets Accounts Payable Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Service Revenue Salaries and Wages Expense Depreciation Expense Loss on Disposal of Equipment Income Tax Expense Net Income $ 6,340 880 5,120 (1140) $ 11,000 $ 520 520 1,700 4.800 3,460 $ 11,000 $ 3,920 1,710 4,800 230) $ 9,200 $1,000 750 so 4,00 2,150 $ 9,200 $ 39,900 37,400 480 530 180 51,310 Additional Data: a. Bought new equipment for $1,700 cash and sold existing equipment for $480 cash. The equipment that was sold had cost $1380 and had Accumulated Depreciation of $370 at the time of sale. b. Borrowed $1.200 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. a. Bought new equipment for $1700 cash and sold existing equipment for $480 cash. The equipment that was sold had cost $1380 and had Accumulated Depreciation of $370 at the time of sale. b. Borrowed $1.200 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 pald in cash. Required: 1. Prepare the statement of cash flows for the year ended December 31 using the indirect method (Amounts to be deducted should be indicated with a minus sign.) HEADS UP COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities Adjustments to Reconcile Net Income to Not Cash Provided by Operating Activities Changes in Current Assots and Current Liabilities