Comparative balance sheet data for the partnership of Bond and Wallin follow.

Net income for the year was $22,000, and this was transferred in equal amounts to the partners€™ capital accounts. Additional changes in the capital accounts arose from additional investments and withdrawals by the partners. The change in the furniture and fixtures account arose from a purchase of additional furniture; part of the purchase price was paid in cash, and a long-term note was issued for the balance. Instructions: Using the indirect method, prepare a statement of cash flows for2011.

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Dec. 31, 2011 Dec. 31, 2010 Cash Accounts receivable Inventory Prepaid expenses $ 15,000 24,200 105,400 4,100 65,500 (40,250) $173,950 $ 9,000 22,425 21.300 69,350 51,875 $173,950 12.500 27,000 91,000 5,350 41,000 (25.250) $151.600 $ 6,700 32,875 Furniture and fixtures Accumulated depreciation Total assets Accrued expenses Accounts payable Long-term note Ryan Bond, capital Trent Wallin, capital 56,150 55,875 Total liabilities and stockholders' equity $151,600