Sharp Screen Films, Incorporated, is developing its annusl financial statements at December 31 , current year. The statements are complete except for the statement of cosh flows. The completed comparative balance sheets and income statement are summarized os follows: Additional Dato: a. Bought equipment for cash, $59,950. b. Prid $16,220 on the long-term note prysble. c. lssued new shares of stock for $34,400 cosh. d. Dividends of $730 were declored and poid. e. Other expenses all relate to woges. f. Accounts poyable includes only inventory purchases made on credit. Required: 1. Prepore the statement of cosh flows using the direct method for the yeor ended December 31 , current year. Note: List cash outflows as negative amounts