The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized.

	Current Year			Prior Year
Balance Sheet
Assets
Cash	$	53,700		$	75,900
Accounts receivable		84,000			73,500
Merchandise inventory		63,000			68,250
Property and equipment		116,000			63,000
Less: Accumulated depreciation		(32,240	)		(16,000	)
Total assets	$	284,460		$	264,650
Liabilities:
Accounts payable	$	10,500		$	12,600
Salaries and Wages Payable		2,100			1,050
Notes payable, long-term		52,500			63,000
Stockholders Equity:
Common stock		104,000			84,000
Retained earnings		115,360			104,000
Total liabilities and stockholders equity	$	284,460		$	264,650
Income Statement
Sales	$	220,000
Cost of goods sold		120,000
Depreciation expense		16,240
Other expenses		55,000
Net income	$	28,760

Other information from the companys records includes the following:

a.	Bought equipment for cash, $53,000.
b.	Paid $10,500 on long-term note payable.
c.	Issued new shares of common stock for $20,000 cash.
d.	Cash dividends of $17,400 were declared and paid to stockholders.
e.	Accounts Payable arose from inventory purchases on credit.
f.	Income tax expense ($7,190) and interest expense ($3,150) were paid in full at the end of both years and are included in Other Expenses.

Required: a. Prepare the statement of cash flows using the indirect method. Include any supplemental disc (Enter any deductions and cash outflows as a negative value.) WICKERSHAM BROTHERS Inc. Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and current liabilites: Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities