The comparative balance sheets and income statement for Bingky Barnes Inc. are as follows: Current Year Prior Year Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation $ 39,600 36,500 46,000 125,900 (34,400) $213,600 $ 40,500 3,600 47,800 94,700 27,000 $213,600 $ 31,700 31,700 40,800 102,800 27,200) $179,800 $ 31,800 4,400 52,200 74,800 16,600 $179,800 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 incomo $138,000 88,000 39,600 $ 10,400 Additional Data: a. Equipment bought for cash $23,100. b. Long-term notes payable was paid off for $4,400. c. Issued new shares of stock for $19,900 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $7,200, wages, $20,600; taxes, $6,700; other, $5,100. f. Assume that expenses were fully paid in cash, when there are no liabilities account related to them. For example, tax expenses are paid in cash since there is no taxes payable. Required: 1. Prepare the statement of cash flows for the year ended December 31, current year, using the Indirect method. (List cash outflows as negative amounts.) Required: 1. Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.) Bingky Barnes Inc Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: 0 0 Cash flows from investing activities: 0 Cash flows from financing activities: 0 $ 0