Exercise 11-8

Exercise 11-8 (Algo) 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: 1. Net income is $62,000. 2. The company purchases $103,000 in equipment. No equipment was sold. 3. Depreciation expense is $155,000. 4. The company repays $117,500 in notes payable. Required: Prepare the statement of cash flows using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.)