The balance sheet for Plasma Screens Corporation, along with additional information, are provided below: 2017 $ PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 Assets: Current assets: Cash $ 111,950 Accounts receivable 80,800 Inventory 102,000 Prepaid rent 5,400 Long-term assets: Land 515,000 Equipment 818,000 Accumulated depreciation (435,000) 129,000 95,500 86,300 2,700 515,000 705,000 (282,000) Total assets $ 1,198,150 $ 1,251,500 $ $ 106,000 6,750 9,400 91,300 13,500 5,700 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 112,500 225,000 735,000 228,500 735,000 181,000 Total liabilities and stockholders' equity $ 1,198,150 $ 1,251,500 Additional Information for 2018: 1. Net income is $76,000. 2. The company purchases $113,000 in equipment. 3. Depreciation expense is $153,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $28,500. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) 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