Question: Sharp Screen Films, Inc, is developing its annual financialstatements at December 31 , current year. The statements are complete except for the statement of cash

Sharp Screen Films, Inc, is developing its annual financialstatements 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: Additional Data a. Bought equipment for cash, $58,950 b. Paid $10,600 on the long-term note payable. c. Issued new shares of stock for $32700 cash d. Dividends of $13,550 were declared and paid e. Other expenses oll relate to wages. f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepure the statement of cash flows using the indirect method for the year ended December 31, current yeat (List cash outflows as negative amounts.) 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.)
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