Prepare the statement of cash flows using the indirect method for the year ended December $31$ current year

PIXI (Static) Preparing a Statement of Cash Flows (Indirect Method) L012-I, 12-2, 12-4, 12-6 1.09 Sharp Screen Films. Incorporated, 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 points eBook e References 16m 350 20,250 (57,450) 217,450 263, 750 103, 950 263 , 750 income statement are summarized as follows: Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated dep reciation Current Year 73,250 15,250 23,450 16,500 2,o 56,300 OOO , 000 11,700 Prior Year 63,500 21,350 18,000 750) (45 19, 2,700 65,900 050 Accounts payable Wages payable Note payable, Common stock ital Retained earnings Income statement for current Cost ot goods sold Depreciation expense Other expenses Net income Acid/t/c)tit Dt: year a. Bought qquipment tor cash, $48,900, b, Paid $14,700 on the long note paynblo, e issued new sharot; of stock for cosh. d Dividends ot $650 declnted and pnid, e. Other expenses all relate to wages. f Accounts payable includes only inventory purchases made on credit. 1. Prepote the Gtotetoent of cash flows using the indirect method for the year ended December 31. current yean Note: List cosh outflows as negative amounts. SH P SCREEN I S,INCORPOR TED Statomont of Cash Flows e e de ea Cash flows from o eratin activities: Adjustments to reconcile net income to net cash provided by o ratin activities: Cash flows from investin activities: Cash flows from financing activities: