PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets Cash Accounts receivable Inventory Prepaid rent $ 113,450 $ 134,600 96,500 88,100 2,900 81,600 104,000 5,800 Long-term assets: Land Equipment Accumulated depreciation 525,000 525,000 715,000 (437,000) (286,000) 826,000 Total assets $1,218,850 $1,276,100 Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable $ 108,000 $ 93,100 14,100 5,900 7,050 9,800 Long-term liabilities Notes payable 117,500 235,000 Stockholders' equity: Common stock Retained earnings 745,000 745,000 183,000 231,500 Total liabilities and stockholders' equity $1,218,850 $ 1,276,100 Additional Information for 2018: 1. Net income is $78,000. 2. The company purchases $111,000 in equipment. 3. Depreciation expense is $151,000. 4. The company repays $117,500 in notes payable. 5 .The company declares and pays a cash dividend of $29,500. PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2018 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 Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period