2 5 points Computer Service and Repair was started five years ago by two college roommates. The company's comparative balance sheets and income statement are presented below, along with additional information. Prior Current Year Year Balance Sheet at December 31 Cash $3,300 Skipped $4,000 Accounts receivable. 700 500 Prepaid expenses 100 50 Equipment Accumulated depreciation 350 0 (50) $ 4,400 $4,550 eBook Wages payable Short-term note payable Common stock Retained earnings Hint $ 350 $1,100 300 0 1,000 2,750 1,000. 2,450 $ 4,400 $4,550 Income Statement for Current Year Service revenue Depreciation expense $34,000 50 Print Salaries expense Other expenses 30,000 3,650 Net income $ 300 References Additional Data a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $350 cash at the beginning of the current year and recorded $50 of depreciation expense at the end of the current year. d. At the end of the current year, the company signed a short-term note payable to the bank for $300. Required: Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.) 5 2 points d. At the end of the current year, the company signed a short-term note payable to the bank for $300. Required: Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.) Skipped eBook Hint Print COMPUTER SERVICE AND REPAIR Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities Cash flows from investing activities References Cash flows from financing activities: 0 0 $