Computer Service and Repair was started five years ago by two college roommates. The company's comparative balance sheets and income statement are presented below, along with additional information. Balance Sheet at December 31 Cash Accounts receivable Prepaid expenses Equipment Accumulated depreciation Wages payable Short-term note payable Common stock Retained earnings Income Statement for Current Year Service revenue Depreciation expense Salaries expense Other expenses Net income Current Year Prior Year $ 7,150 $ 9,350 1,200 600 600 100 550 0 (100) 0 $ 9,400 $ 10,050 $ 450 250 $ 1,600 0 3,000 5,450 3,000 5,700 $ 9,400 $ 10,050 $ 44,000 100 35,000 8,650 $ 250 Additional Data: a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $550 cash at the beginning of the current year and recorded $100 of depreciation expense at the end of the current year. COMPUTER SERVICE AND REPAIR Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Cash flows from investing activities: Cash flows from financing activities: 0 0 0 $ 0