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Question B: Safeway Service and Repair was started five years ago by two college roommates. The company's comparative balance sheets and income statement are presented

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Question B: Safeway Service and Repair was started five years ago by two college roommates. The company's comparative balance sheets and income statement are presented below, along with additional information. Additional data: a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $700 cash at the beginning of the current vear and recorded $100 of depreciation expense at the end of the current year. d. At the end of the current year, the company signed a short-term note payable to the bank for $500. Required: Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method

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