$\backslash$table$[[$SHARP SCREEN FILMS, INCORPORATED$],[$Statement of Cash Flows$],[$For the Year Ended December $31,$ Current Year$],[$Cash flows from operating activities:$],[$Collections from customers,$204,100,],[$Payments to suppliers$],[$Payments for wages,$(46,200),],[$Net cash provided by operating activities,,$157,900],[$Cash flows from investing activities:$],[$Cash payments to purchase property and equipment$],[],[$Net cash used in investing activities,,$0],[$Cash flows from financing activities:$],[$Cash receipts from issuing stock$],[$Cash payments on long$-$term note$],[$Cash payments for dividends$],[$Net cash provided by financing activities,,$0],[$Net increase in cash during the year$],[$Cash balance, January $1,$ current year$],[$Cash balance, December $31,$ current year,,$$]]$P$12-3($Algo$)($Supplement A$)$ Preparing a Statement of Cash Flows $($Direct Method$)$

Sharp Screen Films, Incorporated, is developing its annual financlal 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:

Addit$/$onal Data:

a$.$ Bought equlpment for cash, $$58,650.$

b$.$ Pald $$18,080$ on the long$-$term note payable.

c$.$ Issued new shares of stock for $$33,200$ cash.

d$.$ Dividends of $$670$ were declared and pald.

e$.$ Other expenses all relate to wages.

f$.$ Accounts payable Includes only Inventory purchases made on credit.

Required:

Prepare the statement of cash flows using the direct method for the year ended December $31,$ current year.

Note: Llst cash outflows as negatlve amounts.