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 $ $64,750$ $ $63,400$

Accounts receivable $15,45022,650$

Merchandise inventory $22,65018,100$

Property and equipment $209,350150,400$

Less: Accumulated depreciation $(59,300)(45,850)$

$ $252,900$ $ $208,700$

Accounts payable $ $9,200$ $ $19,400$

Wages payable $2,2002,800$

Note payable, long$-$term $60,50071,100$

Common stock and additional paid$-$in capital $98,70066,000$

Retained earnings $82,30049,400$

$ $252,900$ $ $208,700$

Income statement for current year

Sales $ $196,000$

Cost of goods sold $93,000$

Depreciation expense $13,450$

Other expenses $43,100$

Net income $ $46,450$

Additional Data:

Bought equipment for cash, $$58,950.$

Paid $$10,600$ on the long$-$term note payable.

Issued new shares of stock for $$32,700$ cash.

Dividends of $$13,550$ were declared and paid.

Other expenses all relate to wages.

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.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:

$\backslash$table$[[,$Current Year,Prior Year$],[$Balance sheet at December $31],[$Cash$,$$$64,750,$$$63,400$