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 Current Year Prior Year $4,000 500 Balance Sheet at December 31 Cash Accounts receivable Prepaid expenses Equipment Accumulated depreciation $ 3,300 700 100 350 (50) $ 4,400 $4, 550 $1,100 350 Wages payable Short-ter note payable Common stock Retained earnings 1.000 2,750 $4,400 1,000 2, 450 $4,550 $34,000 Income statement for Current Year Service revenue Depreciation expense Salaries expense Other expenses Net Income 30,000 3.650 5 300 Additional Data: a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c Purchased equipment for $350 cash at the beginning of the current year and recorded $50 of depreciation expense at the end of the current year d. At the end of the current year, the company signed a short-term note payable to the bank for $300. Required: To the statement of cash flows for the year ended December 31. Current var using the Indirect method (List cash Required: Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.) COMPUTER SERVICE AND REPAIR Statement of Cash Flows For the Year Ended December 31, Current Year