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: reviouS ear Current Yea Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation- Equipment 34.480 29,500 28,200 38,200 124,000102,000 (30,400) (25.200) 35,400 41,400 $204,880 $172.700 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earhings 36,400 27.200 1.500 46,000 72,800 600 25,200 1,280 39,800 89,800 $204,880 S172,700 Income Statement Sales Revenue Cost of Goods Sold Other Expenses $122.000 71,000 38.600 Net Income $ 12 400 Additional Data a Bought equipment for cash, $22 000 b. Paid $6.200 on the long-term note payable c. Issued new shares of stock tor S17 000 dash d. No dividends were ceclared or paid e. Other expenses included depreciation, s 200: Salaries and wages, $20 200, taxes, $6 200; utilities $7,000 . Accounts Payable includes only inventory purchases made on credit Because there are no liability accounts relating to taxes or other expenses assumielthlat these expenses were fully paid in cash Required 1. Prepare the statement ot cash flows for the curentyea ended December 31 using the indirect method (Amounts to be deducted should be indicated with a minus sign.)