Saved P12-2 (Algo) Preparing a Statement of Cash Flows (Indirect Method) LO12-1, 12-2, 12-4, 12-6 BGP Electrical Supply is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Balance sheet at December 31 Cash Accounts receivable Merchandise Inventory Property and equipment, Less Accumulated depreciation Accounts payable Accrued wages expense Note payable, long-term Common stock and additional paid-in capital Retained earnings Income statement for current year Sales Cost of goods sold Other expenses Net income Current Year Prior Year $ 37,000 $ 30,000 33,000 41,000 122,300 (31,400) $202,500 $ 37,300 29,100 38,600 101,000 (25,500) $173,200 $ 28,400 2,200 53,000 2,000 45,100 90,100 73,300 20,000 16,300 $202,500 $173,200 $125,000 75,000 8,300 $11,700 Additional Data: Help