Sharp Screen Films, Incorporated, 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: Addicional Data: a. Bought equlpment for cash, $60,950. b. Paid $16,020 on the long.term note payable. c. Issued new shares of stock for $36,400 cash. d. Dividends of $830 were declared and paid. e. Other expenses all relate to wages. 1. Accounts payable includes only inventory purchases made on credit, Required: 1. Prepare the statement of cash flows using the direct method for the year ended December 31 , current year Note: List cash outflows as negative amounts. SHARP SCREEN FILMS, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Current Year