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	$	70,650			$	66,100
Accounts receivable		19,550				25,850
Merchandise inventory		25,850				20,500
Property and equipment		213,850				152,900
Less: Accumulated depreciation		(63,000	)			(47,850	)
	$	266,900			$	217,500
Accounts payable	$	13,300			$	23,600
Wages payable		4,100				7,300
Note payable, long-term		60,370				76,100
Common stock and additional paid-in capital		104,000				67,700
Retained earnings		85,130				42,800
	$	266,900			$	217,500
Income statement for current year
Sales	$	212,000
Cost of goods sold		109,000
Depreciation expense		15,150
Other expenses		44,700
Net income	$	43,150

Additional Data:

1. Bought equipment for cash, $60,950.
2. Paid $15,730 on the long-term note payable.
3. Issued new shares of stock for $36,300 cash.
4. Dividends of $820 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 direct method for the year ended December 31, current year. (List cash outflows as negative amounts.)