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	$	66,750			$	65,800
Accounts receivable		18,650				25,650
Merchandise inventory		25,650				20,100
Property and equipment		213,350				152,000
Less: Accumulated depreciation		(62,500	)			(47,650	)
	$	261,900			$	215,900
Accounts payable	$	12,700			$	22,900
Wages payable		5,000				5,300
Note payable, long-term		63,000				75,900
Common stock and additional paid-in capital		103,300				67,400
Retained earnings		77,900				44,400
	$	261,900			$	215,900
Income statement for current year
Sales	$	210,000
Cost of goods sold		107,000
Depreciation expense		14,850
Other expenses		44,500
Net income	$	43,650

Additional Data:

1. Bought equipment for cash, $61,350.
2. Paid $12,900 on the long-term note payable.
3. Issued new shares of stock for $35,900 cash.
4. Dividends of $10,150 were declared and paid.
5. Other expenses all relate to wages.
6. 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.)