3 2 points Print References Exercise 11-10A Prepare a statement of cash flows-indirect method (LO11-3, 11-4, 11-5) The balance sheets for Plasma Screens Corporation, along with additional information are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current asseter Cash $ 161,800 154,300 Accounts receivable 77.600 91,500 Inventory 94,000 79.100 Prepaid rent 3,800 1,900 Long-term assets Land 475,000 475,000 Equipment 774,000 665,000 Accumulated depreciation 427.000) (265,000 Total anneta $ 139,200 51,200.000 Liabilities and stockholders' Equity Current liabilities: Accounts payable 5 98,000 14,100 Interest payable 6.900 13,800 Incone tax payable 2,800 4.100 Long-term liabilities: Notes payable 115.000 230,000 stockholders' equity Connon stock 695.000 695,000 Retained earnings 216.500 13.000 Total liabilities and stockholdere uity 51.1339700 DO.300 Additional Information for 2021 1. Net income is $68,000 Additional Information for 2021: 1. Net income is $68,000 2. The company purchases $109,000 in equipment. 3. Depreciation expense is $161,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $24,500. Required: Prepare the statement of cash flows using the Indirect method. (List cash outflows and any decrease in cash as negative amounts.) 3 PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities 2 points Adjustments to reconcile net income to net cash flows from operating activities Print References Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities | 3 2 points Net cash flows from operating activities Cash Flows from Investing Activities Print References Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period