Additional Data:

a$.$ Bought new golf clubs using cash, $$1,200.$

b$.$ Borrowed $$1,600$ cash from the bank during the year.

c$.$ Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability

accounts relating to income tax, assume that Income Tax Expense was 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.$)$