Computer Service and Repair was started five years ago by two college roommates. The companys comparative balance sheets and income statement are presented below, along with additional information.

	Current Year				Prior Year
Balance Sheet at December 31
Cash	$	3,250			$	4,000
Accounts receivable		700				500
Prepaid expenses		100				50
Equipment		350				0
Accmulated depreciation		(50	)			0
TOTALS	$	4,350			$	4,550
Wages payable	$	350			$	1,100
Short-term note payable		250				0
Common stock		1,000				1,000
Retained earnings		2,750				2,450
TOTALS	$	4,350			$	4,550
Income Statement for Current Year
Service revenue	$	34,000
Depreciation expense		50
Salaries expense		30,000
Other expenses		3,650
Net income	$	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 $250.

Required:

Prepare the statement of cash flows for the year ended December 31, current year, using the direct method. (List cash outflows as negative amounts.)