Preparing a Statement of Cash Flows During January, The College Shop had the following cash flows:

Cash paid for merchandise

$4,000

Cash paid for rent

5,300

Cash received from sales to customers

13,000

Cash paid for utilities

200

Cash received from owners

9,000

Cash paid for equipment

7,000

Cash paid for insurance

2,500

Cash received from a bank loan

10,500

Cash paid for wages

1,200

The beginning cash balance was $4,000.

Required Prepare a statement of cash flows for The College Shop.