BGP Electrical Supply is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized:

	Current Year				Prior Year
Balance sheet at December 31
Cash	$	38,700			$	31,000
Accounts receivable		34,900				30,500
Merchandise inventory		44,000				39,200
Property and equipment		124,000				101,600
Less: Accumulated depreciation		(32,500	)			(26,300	)
	$	209,100			$	176,000
Accounts payable	$	38,800			$	29,900
Accrued wages expense		2,600				3,200
Note payable, long-term		46,100				50,500
Common stock and additional paid-in capital		92,100				74,000
Retained earnings		29,500				18,400
	$	209,100			$	176,000
Income statement for current year
Sales	$	131,000
Cost of goods sold		81,000
Other expenses		38,900
Net income	$	11,100

Additional Data:

1. Bought equipment for cash, $22,400.
2. Paid $4,400 on the long-term note payable.
3. Issued new shares of stock for $18,100 cash.
4. No dividends were declared or paid.
5. Other expenses included depreciation, $6,200; wages, $20,100; taxes, $6,700; other, $5,900.
6. Accounts payable includes only inventory 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:

1. Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.)

Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Cash flows from investing activities: Cash flows from financing activities