2 , Computer Service and Repair was started five years ago by two college roommates. The company's comperative balance sheets and income statement are presented below, along with additional information Current Year Prior Year Balance Sheet at December 31 Cash 3.300 14,000 Accounts receivable 300 500 Pred expenses 100 54 Equipment 350 . Accumulated depreciation (58) B 54,400 14.550 Wages payable 350 $1,100 Short-term note payable Common stock 1,000 1,000 2 10 Retained earnings 2,750 7,458 $4,400 $4,558 Income Statement for Current Year Service revenue 134,000 Depreciation expense Salaries expense 30,000 Other expenses 3,650 Net income 300 Additional Dat 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 cument 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.) COMPUTER SERVICE AND REPAIR Statement of Cash Flows 2 , Anal Dat a Prepaid expenses relate to rent paid in a Other expenses were paid in cash Purchased equipment for $350 cash at the beginning of the current year and recorded 100 of depreciate expense of the en the current yea d. At the end of the current year, the company signed a short term Required payable to the $300 Prepare the statement of cash flows for the year ended December 31 cument ye using the indirect method Bist negative amounts) COMPUTER SERVICE AND REPAIR For the Year Ended December 31, C P Cash Rows from operating Aquaments to reconcite net income to net cash flow ham operating advi Cash flows from investing activites Cash flows from financing activities