Sharp Screen Films, Inc., 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 income statement are summarized as follows:

	Current Year				Prior Year
Balance sheet at December 31
Cash	$	67,850			$	66,500
Accounts receivable		20,250				26,450
Merchandise inventory		26,450				21,100
Property and equipment		214,450				153,500
Less: Accumulated depreciation		(63,800	)			(48,350	)
	$	265,200			$	219,200
Accounts payable	$	13,800			$	24,300
Wages payable		5,600				6,200
Note payable, long-term		64,500				76,400
Common stock and additional paid-in capital		104,900				68,000
Retained earnings		76,400				44,300
	$	265,200			$	219,200
Income statement for current year
Sales	$	215,000
Cost of goods sold		112,000
Depreciation expense		15,450
Other expenses		45,000
Net income	$	42,550

Additional Data:

1. Bought equipment for cash, $60,950.
2. Paid $11,900 on the long-term note payable.
3. Issued new shares of stock for $36,900 cash.
4. Dividends of $10,450 were declared and paid.
5. Other expenses all relate to wages.
6. 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, current year. (List cash outflows as negative amounts.)

]