The balance sheets 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 90,850 $ Accounts receivable 64,500 Inventory 75,500 Prepaid rent 7,950 Long-term assets: Land 455,000 Equipment 990,000 Accumulated depreciation (572,000) 146.750 76,000 90,000 3,000 455,000 750,000 (415,000) Total assets 11,800 $ 1,105,750 94.000 6,750 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 7,000 20.000 675,000 316,000 112,500 675,000 210.500 Total liabilities and stockholders' equity $ 1,111,800 $ 1.105,750 Additional Information for 2018: 1. Net income is $128,000. 2. The company purchases $240,000 in equipment. 3. Depreciation expense is $157,000 4. The company repays $92,500 in notes payable 5. The company declares and pays a cash dividend of $22.500 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 o Cash at the beginning of the period Cash at the end of the period II lo