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 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 Total liabilities and stockholders' equity 141,050 $ 151,500 77,200 91,000 93,000 78,200 3,600 1,800 470,000 470,000 768,000 660,000 (424,000) $1,128,850 (264,000) $1,188,500 $ 97,000 $ 83,200 6,750 13,500 7,600 4,800 112,500 225,000 690,000 690,000 215,000 172,000 $1,128,850 $1,188,500 Additional Information fex 300 25 Additional Information for 2021: 1. Net income is $67,000. 2. The company purchases $108,000 in equipment. 3. Depreciation expense is $160,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $24,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any Question 7-Ch 11 HWK-Con x CChegg.com ducation.com/ext/map/index.html?_conscon&external browser=0&launchUrl=https%253 Maps 021 Paraphrase Online... CHEMISTRY 1014 ALEKS Abril Can... 00 PLASMA SCREENS CORPORATION Stafament of Cash Fiews For the Year Ended December 31, 2001 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities DOD FZ 73 #t Seved < Prev 7 of 8 MacBook Air $ GOO $4 % F5 4 & Question 7-Ch 11 HWK-Con x CChegg.com education.com/ext/map/index.html?_con-con&external browsers0&launchUrl=https%253/m Maps 02L Paraphrase Online. CHEMISTRY 1014 A ALEKS-Abril Can Oa Seved Net cash flows from operating activities Cash Flows from Investing Activities 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 80 000 DOO 14 < Prev 7 of 8 0 MacBook Air