2 10 eBook P to Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Current Tear Prior Year Balance sheet at December 31 Cash $68,950 $ 64,700 Accounts receivable Merchandise Laventory 16,550 23,550 210,850 Property and equipment Less: Accumulated depreciation (60.400) $259,300 Accounts payable $ 10,500 Wages payable 3.900 note payable, long-term 55,760 Common stock and additional paid-in capital 100,400 Betained sarning 90,740 $259,300 Ise statement for current year pales $200,000 Cost of goods sold 98,000 14,250 Depreciation expense Other pess 43,509 45,150 Net Income Additional Data s. Bought equipment for cash, $59,350. b. Paid $17,040 on the long-term note payable. Issued new shares of stock for $33,000 cash. d. Dividends of $710 were declared and paid Other expenses at relate to wages 1. Accounts payebie includes only inventory purchases made on credit Required: 1. Prepare the statement of cash flows using the ovect method for the year ended December 31, current year (List cash outflows a negative amounts)