value: 20.00 points Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement are presented below Current Previous Year Year Balance Sheet at December 31 Cash Accounts Receivable Prepaid Expenses $ 3,900 $4,72-5 750 75 1,500 150 $ 5,550 $5,550 Salaries and Wages Payable Common Stock Retained Earnings 600 $1,600 1,250 2,700 1,700 3,250 $ 5,550 $5,550 Income Statement Service Revenue Salaries and Wages Expense Other Operating Expenses $39,450 35,000 3,900 Net Income $550 Additional Data a. Prepaid Expenses relate to rent paid in advance b. Other Operating Expenses were paid in cash c. An owner contributed capital by paying $450 cash in exchange for the company's stock Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the direct method (Amounts to be deducted should be indicated by a minus sign.)