Check my work The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 10 points 2021 2020 $ $ eBook 151,300 75,600 89,000 2,800 166,800 89,000 74,600 1,400 Hint References Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 450,000 744,000 (412,000) $1,100,700 450,000 640,000 (256,000) $1,165,800 $ $ 93,000 6,900 6,800 79,600 13,800 4,400 115,000 230,000 670,000 209,000 670,000 168,000 Check my work 115,000 230,000 Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 670,000 209,000 $1,100,700 670,000 168,000 $1,165,800 10 points Additional Information for 2021: eBook Hint 1. Net income is $63,000. 2. The company purchases $104,000 in equipment. 3. Depreciation expense is $156,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $22,000. References Check my work Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) 10 points eBook Hint References PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Decrease in accounts receivable Increase in inventory Increase in prepaid rent Increase in accounts payable Decrease in interest payable Increase in income tax payable Check my work Net cash flows from operating activities Cash Flows from Investing Activities Purchase of equipment 10 points eBook Hint References 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 Net decrease in cash Cash at the beginning of the period Cash at the end of the period