Additional Data:

a$.$ Bought equipment for cash, $$18,000.$

b$.$ Paid $$5,400$ on the long$-$term notes payable.

c$.$ Issued new shares of stock for $$13,000$ cash.

d$.$ No dividends were declared or paid.

e$.$ Other expenses included depreciation, $$4,400$; salaries and wages, $$19,400$; taxes, $$5,400$; utilities, $$6,200.$

$f$ Accounts Payable includes only inventary 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:

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.$)$

$\backslash$table$[[$Statement of Cash Flows,For the Year Ended December $31,],[$Cash Flows from Operating.Activities:,,,$],[$Net Income,,$$,11,600],[\backslash$table$[[$Adjustments to Reconcile Net Income to Net Ca$],[$Provided by Operating Activities:$]],,,],[$Depreciation Expense,$4,400,,],[$Changes in Current Assets and Current Liabilitie,,,$],[$Increase in Accounts Receivable,,,$],[$Increase in Inventory,,,$],[$Increase in Accounts Payable,,,$],[$Decrease in Salaries and Wages payable,,,$],[,,,4,400],[,,,16,000],[$Cash Flows from Investing Activities:,,,$],[$Cash Payments to Purchase Equipment,,,$],[$Cash payments on Notes Payable $($long$-$term$),,,],[1.,,,0],[$Cash Flows from Financing Activities:,,,$],[$Cash Receipts from Issuing Stock,,,$],[$Cash payments on Notes Payable $($long$-$term$),,,],[2,,,],[$Net Cash Provided by Financing Activities,,,$0],[$Net Increase in Cash during the Year,,,$],[$Cash Balance, January $1,,,],[$Cash Balance, December $31,,$$$,0]]$