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	$	65,950			$	64,400
Accounts receivable		16,050				23,250
Merchandise inventory		23,250				18,400
Property and equipment		209,950				151,900
Less: Accumulated depreciation		(60,100	)			(46,150	)
	$	255,100			$	211,800
Accounts payable	$	9,900			$	20,000
Wages payable		3,000				3,200
Note payable, long-term		61,300				72,100
Contributed capital		99,800				66,300
Retained earnings		81,100				50,200
	$	255,100			$	211,800
Income statement for current year
Sales	$	199,000
Cost of goods sold		96,000
Depreciation expense		13,950
Other expenses		43,400
Net income	$	45,650

Additional Data:

Bought equipment for cash, $58,050.

Paid $10,800 on the long-term note payable.

Issued new shares of stock for $33,500 cash.

Dividends of $14,750 were declared and paid.

Other expenses all relate to wages.

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.)