The balance sheet for Plasma Screens Corporation, along with additional information, are provided below: Additional Information for 2018: 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. Required: Prepare the statement of cash flows using the indirect method.

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2017 2018 Assets: Current assets: 108,900 126,800 Cash 97,000 Accounts receivable 82,000 105,000 89,000 Inventory Prepaid rent 6.000 3.000 Long-term assets: 530,000 530,000 Land Equipment 830,000 720,000 (438,000) (288,000) Accumulated depreciation 1,223,900 1,277,800 Total assets Liabilities and Stockholders' Equity: Current liabilities: 109,000 94,000 Accounts payable 6,900 13,800 Interest payable Income tax payable 6,000 10.000 Long-term liabilities: 230,000 Notes payable 115,000 Stockholders' equity: 750,000 750,000 Common stock 233,000 184,000 Retained earnings Total liabilities and stockholders' equity 1,223,900 1,277,800