XS Supply Company is developing its annual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: Current Year Previous Year Balance Sheet at December 31 Accounts Receivable Inventory Equipment Accumulated Depreciation Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term) Coon Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Sales Revenue Cost of Goods Sold Other Expenses Net Income $ 34,960 35,800 41,800 127,000 (30,800) $ 200, 760 $ 36,800 1,360 41,600 91.000 38.000 $ 208, 760 $ 30,000 28,400 38.400 104,000 (25,400) $175,400 $ 27,400 1.600 48,000 73.000 25,400 $175,400 $124,000 72,000 39.400 $12.600 Additional Data: a. Bought equipment for cash, $23,000, b. Paid $6,400 on the long-term note payable. c. Issued new shares of stock for $18,000 cash d. No dividends were declared or paid. e. Other expenses included depreciation, $5,400; salaries and wages, $20.400; taxes. $6.400; utilities. $7200 Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)