PLASMA SCREENS CORPORATION Balance Sheets December 31, 2015 and 2014

2015

2014

Assets:

Current assets:

Cash

$

108,900

$

126,800

Accounts receivable

82,000

97,000

Inventory

105,000

89,000

Prepaid rent

6,000

3,000

Long-term assets:

Land

530,000

530,000

Equipment

830,000

720,000

Accumulated depreciation

(438,000)

(288,000)

Total assets

$

1,223,900

$

1,277,800

Liabilities and Stockholders' Equity:

Current liabilities:

Accounts payable

$

109,000

$

94,000

Interest payable

6,900

13,800

Income tax payable

10,000

6,000

Long-term liabilities:

Notes payable

115,000

230,000

Stockholders' equity:

Common stock

750,000

750,000

Retained earnings

233,000

184,000

Total liabilities and stockholders' equity

$

1,223,900

$

1,277,800

Additional Information for 2015:
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.

PLASMA SCREENS CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2015
Cash flows from operating activities:
Adjustments to reconcile net income to net cash flows from operating activities
Net cash flows from operating activities		$0
Cash flows from Investing activities:
Net cash flows from investing activities		0
Cash flows from financing activities:
Net cash flows from financing activities		0
Cash at the beginning of the period
Cash at the end of the period		$0