Question: help with this one please be specific because any little wrong awnser will make the whole thing wrong CC12-1 (Algo) Accounting for Cash Flows [LO

![[LO 12-2, LO 12-3, LO 12-4, LO 12-5] During a recent year,](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2024/10/66fb94176c89e_47966fb94170de8a.jpg)
CC12-1 (Algo) Accounting for Cash Flows [LO 12-2, LO 12-3, LO 12-4, LO 12-5] During a recent year, Nicole's Getaway Spa (NGS) reported net income of $2,450. The company reported the following activities: a. Increase in inventory of $430. b. Depreciation of $3,300, c. Increase of $2,200 in prepaid expenses. d. Payments of $4,900 on long-term debt. e. Purchased new spa equipment for $7,612. 1. Payments on accounts payable exceeded purchases by $350. g. Collections on accounts receivable exceeded credit sales by $889. h. Issued $10,000 of common stock. 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 $7,300. (Amounts to be deducted should be indicated with a minus sign.) 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 $7,300. (Amounts to be deducted should be indicated with a minus sign.) CC12-1 (Algo) Accounting for Cash Flows [LO 12-2, LO 12-3, LO 12-4, LO 12-5] During a recent year, Nicole's Getaway Spa (NGS) reported net income of $2,450. The company reported the following activities: a. Increase in inventory of $430. b. Depreciation of $3,300, c. Increase of $2,200 in prepaid expenses. d. Payments of $4,900 on long-term debt. e. Purchased new spa equipment for $7,612. 1. Payments on accounts payable exceeded purchases by $350. g. Collections on accounts receivable exceeded credit sales by $889. h. Issued $10,000 of common stock. 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 $7,300. (Amounts to be deducted should be indicated with a minus sign.) 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 $7,300. (Amounts to be deducted should be indicated with a minus sign.)
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