PLASMA SCREENS CORPORATION Balance sheets December 31, 2024 and 2023 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current 1iabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity \begin{tabular}{rr} $112,750 & $122,800 \\ 78,400 & 92,500 \\ 96,000 & 80,900 \\ 4,200 & 2,10 \\ 485,000 & 485,00 \\ 794,000 & 675,00 \\ (429,000) & (270,00) \\ \hline$1,141,350 & $1,188,300 \\ \hline & \\ $100,000 & $85,90e \\ 6,150 & 12,300 \\ 8,200 & 5,100 \\ 102,500 & 205,000 \\ 705,000 & 705,00 \\ 219,500 & 175,00 \\ \hline$1,141,350 & $1,188,300 \\ \hline \end{tabular} Additional Information for 2024 1. Net income is $70,000. 2. The company purchases $119,000 in equipment. No equipment was sold. 3. Depreciation expense is $159,000. 4. The company repays $102,500 in notes payable. 5. The company declares and pays a cash dividend of $25,500. PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities