Exercise 11-10 Prepare a statement of cash flows-indirect method (LO11-2, 11-3) The balance sheet for Plasma Screens Corporation, along with additional information, are provided below PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets: Current assets: Cash Accounts receivable Inventory Prepaid rent S 108,900 $126,800 97,000 89,000 3,000 82,000 105,000 6,000 Long-term assets: Equipment Accumulated depreciation 530,000 720,000 (438,000) (288,000) 530,000 830,000 Total assets $ 1,223,900 1,277,800 Liabilities and Stockholders' Equity. Current liabilities: Accounts payable Interest payable Income tax payable $ 109,000 94,000 13,800 6,000 6,900 10,000 115,000 750,000 Long-term liabilities: Notes payable 230,000 Stockholders' equity: Common stock Retained earnings 750,000 184,000 233,000 Total liabilities and stockholders' equity $ 1,223,900 S 1,277,800 Additional Information for 2018: 1. Net income is $79,000. 2. The company purchases $110,000 in equipment. 3. Depreciation expense is $150,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $30,000