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 $ 3,300 $3,800 Accounts receivable 1,500 1,200 Prepaid expenses 110 160 Equipment 400 0 $ 5,310 $5,160 Wages payable $ 750 $1,400 Common stock and additional paid-in 1,800 1,200 capital Retained earnings 2,760 2,560 $ 5,310 $5,160 Income Statement for Current Year Lessons revenue $35,250 31,000 Wages expense Other expenses Net income 4,050 $ 200 Additional Data: a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $400 cash at the end of the current year to be used starting in following year. d. 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. (List cash outflows as negative amounts.) 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.) SHALLOW WATERS COMPANY 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 provided by operating activities: Cash flows from investing activities: Cash flows from financing activities: