PLASMA SCREENS CORPORATION

Balance Sheets

Assets

Current assets:

Cash

Accounts recelvable

Inventory

Prepaid rent

Long$-$term assets:

Land

Equipment

Accumulated depreciation

Total assets

Liabilities and Stockholders' Equity

Current labilities:

Accounts payable

Interest payable

Income tax payable

Long$-$term liabilities:

Notes payable

Stockholders' equity:

Common stock

Retained earnings

Total liabilities and stockholders' equity

Additional Information for $2024$:

Net income is $$79,000.$

The company purchases $$110,000$ in equipment. No equipment was sold.

Depreciation expense is $$150,000.$

The company repays $$115,000$ in notes payable.

The company declares and pays a cash dividend of $$30,000.$

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.$)$