Bought equipment for cash, $$25,000.$

Paid $$6,800$ on the long$-$term notes payable.

Issued new shares of stock for $$20,000$ cash.

No dividends were declared or paid.

Other expenses included depreciation, $$5,800$; salaries and wages, $$20,800$; taxes, $$6,800$; utilities, $$7,600.$

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 current year ended December $31$ using the indirect method. $($Amounts to be deducted should be indicated with a minus sign.$)$PA$12-3($Algo$)$ Preparing a Statement of Cash Flows $($Indirect Method$)[$LO $12-2,$ LO $12-3,$ LO $12-4,$ LO $125]$

Xs Supply Company is developing its annual financial statements at December $31.$ The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized:

$\backslash$table$[[,$Current Year,$\backslash$table$[[$Previous$],[$Year$]]],[\backslash$table$[[$Balance Sheet at December $31],[$Cash$],[$Accounts Receivable$],[$Inventory$],[$Equipment$],[$Accumulated Depreciation$-$Equipment$]],\backslash$table$[[$$$35,370$