1 00:44:38 During a recent year, Nicole's Getaway Spa (NGS) reported net income of $3,100. The...

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1 00:44:38 During a recent year, Nicole's Getaway Spa (NGS) reported net income of $3,100. The company reported the following activities: a. Increase in inventory of $340. b. Depreciation of $2,400. c. Increase of $2,110 in prepaid expenses. d. Payments of $4,000 on long-term debt. e. Purchased new spa equipment for $7,522. Payments on accounts payable exceeded purchases by $260. g. Collections on accounts receivable exceeded credit sales by $799. h. Issued $11,000 of common stock. Required: Based on this information, prepare a statement of cash flows for the year ended December 31 using the indirect method. Assume the cash balance at the beginning of the year was $6,400. (Amounts to be deducted should be indicated with a minus sign.) NICOLE'S GETAWAY SPA Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities. Net Income Changes in Current Assets and Current Liabilities: 1 For the Year Ended December 31 Cash Flows from Operating Activities Net Income: 004417 Changes in Current Assets and Current Liabilities Cash Provided by Operating Activities Cash Flow from Investing Activities Cash Flow from Financing Activities $ 0 1 00:44:38 During a recent year, Nicole's Getaway Spa (NGS) reported net income of $3,100. The company reported the following activities: a. Increase in inventory of $340. b. Depreciation of $2,400. c. Increase of $2,110 in prepaid expenses. d. Payments of $4,000 on long-term debt. e. Purchased new spa equipment for $7,522. Payments on accounts payable exceeded purchases by $260. g. Collections on accounts receivable exceeded credit sales by $799. h. Issued $11,000 of common stock. Required: Based on this information, prepare a statement of cash flows for the year ended December 31 using the indirect method. Assume the cash balance at the beginning of the year was $6,400. (Amounts to be deducted should be indicated with a minus sign.) NICOLE'S GETAWAY SPA Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities. Net Income Changes in Current Assets and Current Liabilities: 1 For the Year Ended December 31 Cash Flows from Operating Activities Net Income: 004417 Changes in Current Assets and Current Liabilities Cash Provided by Operating Activities Cash Flow from Investing Activities Cash Flow from Financing Activities $ 0