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:

	Current Year	Prior Year
Balance sheet at December 31
Cash	$ 67,850	$ 66,500
Accounts receivable	20,250	26,450
Merchandise inventory	26,450	21,100
Property and equipment	214,450	153,500
Less: Accumulated depreciation	(63,800)	(48,350)
	$ 265,200	$ 219,200
Accounts payable	$ 13,800	$ 24,300
Wages payable	5,600	6,200
Note payable, long-term	64,500	76,400
Common stock and additional paid-in capital	104,900	68,000
Retained earnings	76,400	44,300
	$ 265,200	$ 219,200
Income statement for current year
Sales	$ 215,000
Cost of goods sold	112,000
Depreciation expense	15,450
Other expenses	45,000
Net income	$ 42,550

Additional Data:

1. Bought equipment for cash, $60,950.
2. Paid $11,900 on the long-term note payable.
3. Issued new shares of stock for $36,900 cash.
4. Dividends of $10,450 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.

Note: List cash outflows as negative amounts.