XS Supply Company is developing its annual financial statements at December 31, 2014. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized:

		2014				2013
Balance sheet at December 31
Cash	$	35,700			$	29,000
Accounts receivable		37,900				30,500
Merchandise inventory		44,000				39,200
Property and equipment		124,000				101,600
Less: Accumulated depreciation		(32,500)				(26,300)
	$	209,100			$	174,000
Accounts payable	$	38,800			$	29,900
Wages payable		2,600				3,200
Note payable, long-term		46,100				50,500
Contributed capital		92,100				74,000
Retained earnings		29,500				16,400
	$	209,100			$	174,000
Income statement for 2014
Sales	$	131,000
Gain on sale of equipment		3,000
Cost of goods sold		81,000
Other expenses		39,900
Net income	$	13,100

Additional data:

a.	Bought equipment for cash, $35,400.
	Sold equipment with original cost of $13,000, accumulated depreciation of $9,000, for $7,000 cash.
b.	Paid $4,400 on the long-term note payable.
c.	Issued new shares of stock for $18,100 cash.
d.	No dividends were declared or paid.
e.	Other expenses included depreciation, $15,200; wages, $14,300; taxes, $6,700; and other, $3,700.
f.	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 year ended December 31, 2014, using the indirect method. (List cash outflows as negative amounts.)

XS SUPPLY COMPANY Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from investing activities: 0 Cash flows from financing activities: 0 $ 0