Soft Touch Company was started several years ago by two golf instructors. The companys comparative balance sheets and income statement are presented below, along with additional information.

	Current Year	Previous Year
Balance Sheet at December 31
Cash	$ 14,580	$ 9,750
Accounts Receivable	3,000	4,200
Equipment	12,100	11,000
Accumulated DepreciationEquipment	(3,770)	(3,200)
Total Assets	$ 25,910	$ 21,750
Accounts Payable	$ 1,700	$ 2,700
Salaries and Wages Payable	1,280	1,850
Notes Payable (long-term)	3,700	1,000
Common Stock	11,000	11,000
Retained Earnings	8,230	5,200
Total Liabilities and Stockholders Equity	$ 25,910	$ 21,750
Income Statement
Service Revenue	$ 77,800
Salaries and Wages Expense	71,500
Depreciation Expense	570
Income Tax Expense	2,700
Net Income	$ 3,030

Additional Data:

Bought new golf clubs using cash, $1,100.

Borrowed $2,700 cash from the bank during the year.

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 Income Tax Expense was fully paid in cash.

Prepare the statement of cash flows for the current year ended December 31 using the indirect method.