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	$	66,650			$	65,000
Accounts receivable		16,950				23,750
Merchandise inventory		23,750				18,800
Property and equipment		211,050				153,200
Less: Accumulated depreciation		(60,700	)			(46,650	)
	$	257,700			$	214,100
Accounts payable	$	10,700			$	21,000
Wages payable		3,900				4,300
Note payable, long-term		61,900				73,400
Contributed capital		100,800				66,600
Retained earnings		80,400				48,800
	$	257,700			$	214,100
Income statement for current year
Sales	$	202,000
Cost of goods sold		99,000
Depreciation expense		14,050
Other expenses		43,700
Net income	$	45,250

Additional Data:

A. Bought equipment for cash, $57,850.

B. Paid $11,500 on the long-term note payable.

C. ssued new shares of stock for $34,200 cash.

D. Dividends of $13,650 were declared and paid.

E. Other expenses all relate to wages.

F. Accounts payable includes only inventory purchases made on credit.

Question: Prepare the statement of cash flows using the indirect method for the year ended Dec 31