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
Cash	$	34,240		$	29,250
Accounts Receivable		35,200			28,100
Inventory		41,200			38,100
Equipment		122,500			101,000
Accumulated DepreciationEquipment		(30,200	)		(25,100	)
Total Assets	$	202,940		$	171,350
Accounts Payable	$	36,200		$	27,100
Salaries and Wages Payable		1,240			1,450
Note Payable (long-term)		38,900			45,000
Common Stock		89,200			72,700
Retained Earnings		37,400			25,100
Total Liabilities and Stockholders Equity	$	202,940		$	171,350
Income Statement
Sales Revenue	$	121,000
Cost of Goods Sold		70,500
Other Expenses		38,200
Net Income	$	12,300

Additional Data:

1. Bought equipment for cash, $21,500.
2. Paid $6,100 on the long-term note payable.
3. Issued new shares of stock for $16,500 cash.
4. No dividends were declared or paid.
5. Other expenses included depreciation, $5,100; salaries and wages, $20,100; taxes, $6,100; utilities, $6,900.
6. 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.

XS SUPPLY COMPANY 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: Cash Flows from Investing Activities: Cash Flows from Financing Activities