Shallow Waters Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement are presented below, along with additional information.

Current Year Prior Year

Balance Sheet at December $31$

Cash $ $4,200$ $ $4,400$

Accounts receivable $1,200900$

Prepaid expenses $100150$

Equipment $5000$

$ $6,000$ $ $5,450$

Wages payable $ $950$ $ $1,300$

Common stock and additional paid$-$in capital $1,9001,300$

Retained earnings $3,1502,850$

$ $6,000$ $ $5,450$

Income Statement for Current Year

Lessons revenue $ $38,450$

Wages expense $34,000$

Other expenses $4,150$

Net income $ $300$

Additional Data:

Prepaid expenses relate to rent paid in advance.

Other expenses were paid in cash.

Purchased equipment for $$500$ cash at the end of the current year to be used starting in the following year.

An owner contributed capital by paying $$600$ cash in exchange for the company's stock.

Required:

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

Note: List cash outflows as negative amounts.