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Hockey World Exotic Pet Shops, Incorporated reported the following comparative balance sheets and income statement for the current year. (Click the icon to view the balance sheets.) |(Click the icon to view the income statement.) Prepare the operating activities section of the statement of cash flows using the indirect method. Assume that accrued expenses relate to selling, general and administrative expenses. (Use a minus sign or parentheses for any numbers to be subtracted. If an input field is not used in the statement, leave the field empty; do not select a label or enter a zero.) Hockey World Exotic Pet Shops, Incorporated Partial Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Operating Activities: Adjustments to Reconcile Net Income to Cash Flows from Operating Activities: Changes in Operating Working Capital Accounts: Hockey World Exotic Pet Shops, Incorporated reported the following comparative balance sheets and income statement for the current year. (Click the icon to view the balance sheets.) |(Click the icon to view the income statement.) Prepare the operating activities section of the statement of cash flows using the indirect method. Assume that accrued expenses relate to selling, general and administrative expenses. (Use a minus sign or parentheses for any numbers to be subtracted. If an input field is not used in the statement, leave the field empty; do not select a label or enter a zero.) ... from Uperating Activities: Changes in Operating Working Capital Accounts: Net Cash Provided (Used) by Operating Activities - Balance Sheet Balance Sheets At December 31 Assets Ending Beginning Current Assets Cash 7,600 $ 3,570 Accounts Receivable - net 9,000 7,900 Merchandise Inventory 2,390 1,780 4,600 2,280 Prepaid Insurance $ 20,770 $ 18,350 Total Current Assets Noncurrent Assets Investments $ 11,000 $ 74,460 24,100 56,110 Property, Plant, and Equipment - net $ Total Noncurrent Assets 85,460 $ 80,210 $ 106,230 $ 98,560 Total Assets II-LHH1: - Balance Sheet Liabilities Current Liabilities $ 4,700 $ 1,400 Accounts Payable Accrued Expenses 9,800 6,500 5,190 4,870 Income Taxes Payable $ 21,000 $ 11,460 Total Current Liabilities Noncurrent Liabilities Notes Payable $ 31,500 $ 42,400 $ Total Noncurrent Liabilities 31,500 $ 42,400 $ 52,500 $ 53,860 Total Liabilities Shareholders' Equity Common Stock, $1 par value Additional Paid-in Capital in Excess of Par - Common $ 9,100 $ 9,100 19,300 25,330 19,300 16,300 Retained Earnings $ Total Shareholders' Equity 53,730 $ 44,700 $ 106,230 $ 98,560 Total Liabilities and Shareholders' Equity Income Statement Income Statement For the Year Ended December 31 Sales $ 80,000 48,000 Cost of Goods Sold Gross Profit $ 32,000 Selling, General, and Administrative Expenses $ 10,100 2,200 Depreciation Expense Total Operating Expenses $ 12,300 $ 19,700 Operating Income Interest Expense $ (3,220) 2,900 Interest Revenue Income before Tax $ 19,380 (7,400) Income Tax Expense $ 11,980 Net Income

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