Sharp Screen Films, Inc., is developing its annual financial statements at December 31, 2015. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: 2014 Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation $ 64,850 63,700 22,850 18,200 150,700 (59,500 (45,950) 15,750 22,850 209,450 $253,400 $209,500 Accounts payable Wages payable Note payable, long-term Contributed capital Retained earnings $ 9,400 19,700 3,000 71,400 66,100 49,300 2,500 60,600 99,300 81,600 $253,400 $209,500 Income statement for 2015 Sales Cost of goods sold Depreciation expense Other expenses $197,000 94,000 13,550 43,200 Net income $ 46,250 Additional Data: a. Bought equipment for cash, $58,750. b. Paid $10,800 on the long-term note payable c. Issued new shares of stock for S33,200 cash. d. Dividends of $13,950 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit. Additional Data: a. Bought equipment for cash, $58,750. b. Paid $10,800 on the long-term note payable. c. Issued new shares of stock for S33,200 cash. d. Dividends of $13,950 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, 2015. (List cash outflows as negative amounts.) SHARP SCREEN FILMS, INC Statement of Cash Flows For the Year Ended December 31, 2015 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