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	$	71,150			$	66,400
Accounts receivable		20,050				26,050
Merchandise inventory		26,050				21,000
Property and equipment		214,350				153,800
Less: Accumulated depreciation		(63,700	)			(48,050	)
	$	267,900			$	219,200
Accounts payable	$	13,700			$	24,100
Wages payable		4,700				7,500
Note payable, long-term		59,990				76,300
Common stock and additional paid-in capital		104,500				67,900
Retained earnings		85,010				43,400
	$	267,900			$	219,200
Income statement for current year
Sales	$	214,000
Cost of goods sold		111,000
Depreciation expense		15,650
Other expenses		44,900
Net income	$	42,450

Additional Data:

1. Bought equipment for cash, $60,550.
2. Paid $16,310 on the long-term note payable.
3. Issued new shares of stock for $36,600 cash.
4. Dividends of $840 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.)

SHARP SCREEN FILMS, INC.
Statement of Cash Flows
For the Year Ended December 31, Current Year
Cash flows from operating activities:
		0
Cash flows from investing activities:
		0
Cash flows from financing activities:
		0
		$0