Check my work 4 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. 125 PLASRA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 eBook 2021 2020 $ 155,650 75,200 $8,000 $ 174,600 88,500 73,700 1,300 Pront 2.600 rences maturence 445,000 445,000 738,000 635,000 (402.000) (254,000) $1,095,650 $1,164,100 Assets Current assetsi Cash Accounts receivable Inventory Prepaid rent Long-term asseter Land Equipment Accumulated depreciation Total assets Liabilities and stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities! Notes payable stockholdersequity Common stoek Retained earnings Total liabilities and stockholders equity 5 $ 92,000 7,050 6,600 78,700 14.100 4.300 117.500 235,000 665.000 202.500 31,095,650 665,000 167.000 SOO Arditional informatinn fnr 2021 48 Check my work 4 Additional Information for 2021 1. Net Income is $62,000. 2. The company purchases $103,000 in equipment. 3. Depreciation expense is $155,000. 4. The company repoys $117,500 in notes payable, 5. The company declares and pays a cash dividend of $21.500. 125 points book Hunt Required: Prepare the statement of cash flows using the Indirect method. (List cash outflows and any decrease in cash as negative amounts.) PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Net income 5 62.000 Adjustments to reconcile net income to net cash flows from operating activities Decrease in accounts receivable 4 125 points $ 62,000 Net cash flows from operating activities Cash Flows from Investing Activities Purchase of equipment ebook Hint Print References 0 Net cash flows from investing activities Cash Flows from Financing Activities Payment of notes payable Payment of cash dividends Net cash flows from financing activities 21,500 Cash at the beginning of the period Cash at the end of the period $ 0