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	$	67,050			$	65,300
Accounts receivable		17,650				24,250
Merchandise inventory		24,250				19,000
Property and equipment		211,750				153,400
Less: Accumulated depreciation		(61,100	)			(46,850	)
	$	259,600			$	215,100
Accounts payable	$	11,200			$	21,600
Wages payable		4,200				4,700
Note payable, long-term		62,100				73,900
Contributed capital		101,400				66,800
Retained earnings		80,700				48,100
	$	259,600			$	215,100
Income statement for current year
Sales	$	204,000
Cost of goods sold		101,000
Depreciation expense		14,250
Other expenses		43,900
Net income	$	44,850

Additional Data:

Bought equipment for cash, $58,350.

Paid $11,800 on the long-term note payable.

Issued new shares of stock for $34,600 cash.

Dividends of $12,250 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.)