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	$ 32,810	$ 27,750
Accounts Receivable	33,800	27,400
Inventory	39,800	37,400
Equipment	112,000	94,000
Accumulated DepreciationEquipment	(28,800)	(24,400)
Total Assets	$ 189,610	$ 162,150
Accounts Payable	$ 34,800	$ 26,400
Salaries and Wages Payable	1,210	1,350
Notes Payable (long-term)	32,600	38,000
Common Stock	85,000	72,000
Retained Earnings	36,000	24,400
Total Liabilities and Stockholders Equity	$ 189,610	$ 162,150
Income Statement
Service Revenue	$ 114,000
Cost of Goods Sold	67,000
Other Expenses	35,400
Net Income	$ 11,600

Additional Data:

1. Bought equipment for cash, $18,000.
2. Paid $5,400 on the long-term notes payable.
3. Issued new shares of stock for $13,000 cash.
4. No dividends were declared or paid.
5. Other expenses included depreciation, $4,400; salaries and wages, $19,400; taxes, $5,400; utilities, $6,200.
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. (Amounts to be deducted should be indicated with a minus sign.)