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	$	64,950			$	63,900
Accounts receivable		15,950				23,150
Merchandise inventory		23,150				18,300
Property and equipment		209,750				150,800
Less: Accumulated depreciation		(59,700	)			(46,050	)
	$	254,100			$	210,100
Accounts payable	$	9,700			$	19,900
Wages payable		2,700				3,100
Note payable, long-term		61,000				71,900
Common stock and additional paid-in capital		99,600				66,200
Retained earnings		81,100				49,000
	$	254,100			$	210,100
Income statement for current year
Sales	$	198,000
Cost of goods sold		95,000
Depreciation expense		13,650
Other expenses		43,300
Net income	$	46,050

Additional Data:

1. Bought equipment for cash, $58,950.
2. Paid $10,900 on the long-term note payable.
3. Issued new shares of stock for $33,400 cash.
4. Dividends of $13,950 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.)