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. Additional Data. a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $700 cash at the end of the current year to be used starting in following year. d. An owner contributed capital by paying $300 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.)