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: Additional Data: a. Bought equipment for cash, $58,750. b. Paid $18,260 on the long-term note payable. c. Issued new shares of stock for $33,500 cash. d. Dividends of $690 were declared and paid. e. Other expenses all relate to wages. f. 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. Nota. 1 ict rach nutflnwe as nerative amnunte SHARP SCREEN FILMS, INCORPORATED Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Cash flows from investing activities: Cash flows from financing activities