pls with Calculation

Use the following financial statements and additional information to prepare a Statement of Cash Flows for the year ended December 31, 2011 using the indirect method. The management wants to classify payments for dividends as financing activities. Wescott Company Statements of Financial Position December 312 2011e 2010 Assets: Cash......... $ 85,600 $ 65,200 Accounts receivable, net.. 72,8504 56,75044 Merchandise inventory.. 157,750 144,850 Prepaid expenses.... 6,080 12,680 | Equipment...... 280,600 245,60044 Accumulated depreciation-Equipment.. (80,600) (97,600) Total assets............. $522.2804 $427,480 Liabilities Accounts payable......... $ 52,8504 $ 45,450 Income tax payable.... 15.2404 12,2400 Notes payable (long term.... 59,200 79,200 Total liabilities......... $127,290 $ 136,8904 Equity: Share Capital..... 200,000 150,000 Share Premium.. 53,000 40,000 Retained earnings... 141,990 100,590 Total equity................ $394,990 $290,590 Total liabilities and equity. $522,2804 $427,480 Wescott Company Income Statement For Year Ended December 31, 20112 Sales........... 4 $488,000 | Cost of goods sold... $(212,540) Depreciation expense... (43,000) Other operating expenses... (106,260_ Interest expense.... (6,400 (368,200) Other gains (losses): Gain on sale of equipment... 4.700 Profit before tax....... 124,500 | Income tax expense. (41,100) | Net profit..............2 $ 83,400 Additional Information a. A $20,000 note payable is retired at its carrying amount in exchange for cash. b. The only changes affecting retained earnings are net profit and cash dividends paid. Cash dividends paid is to be classified under financing activities. c. New equipment is acquired for $120,000 cash. d. Received cash for the sale of equipment that had cost $85,000, yielding a gain of $4,700. e. Prepaid expenses relate to Other Expenses on the income statement