Chapter 9 - 12 Project i Saved Help Save & Exit Submit CC12-1 (Algo) Accounting for Cash Flows (LO 12-2, LO 12-3, LO 12-4, LO 12-5] 2 During a recent year, Nicole's Getaway Spa (NGS) reported net income of $3,200. The company reported the following activities: 10 points Skipped a. Increase in inventory of $300. b. Depreciation of $2,000. c. Increase of $2,070 in prepaid expenses. d. Payments of $3,600 on long-term debt. e. Purchased new spa equipment for $7,482. f. Payments on accounts payable exceeded purchases by $220. g. Collections on accounts receivable exceeded credit sales by $759. h. Issued $12,000 of common stock. eBook 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 $6,000. (Amounts to be deducted should be indicated with a minus sign.) Ask NICOLE'S GETAWAY SPA Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities Net Income Depreciation Changes in Current Assets and Current Liabilities Inventory Prepaid Expenses Accounts Receivable Accounts Payable 0 Cash Provided by Operating Activities Cash Flow from Investing Activities Purchased New Spa Equipment 0 Cash Used in Investing Activities Cash Flow from Financing Activities Issued New Company Stock Payments on Notes Payable (long-term) 0 Cash Used in Financing Activities Net Change in Cash Beginning Cash Ending Cash $ 0