Net Income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expense Changes in current assets and current liabilities: Accounts Receivable Accounts Payable Salaries and Wages Payable Net cash provided by operating activities Cash Flows from Investing Activities: Purchase of New Hockey Equipment Net cash used in investing activities Cash Flows from Financing Activities: Borrowed Cash from the bank Net cash provided by financing activities Net increase in Cash and Cash Equivalents Cash, beginning of year Cash, end of year PA12-4 Preparing and Interpreting a Statement of Cash Fiows (Indirect Method) Heads Up Company was started several years ago by two hockcy instructors. The company's comparative balanoe sheets and income statement follow, along with additional information. Additional Data: a. Bought new hockey equipment for cash. $500. b. Borrowed 51,200 cash from the bank during the ycar c. Accouats Payable includes only purchases of services made oo credit for operating purposes. Because there are no liability accounts felating to income tax, assume that this cxpense was fully paid in cash