The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: 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 $144,850 76,400 $156,500 90,000 91,000 76,400 3,200 1,600 460,000 460,000 756,000 650,000 (418,000) (260,000) $1,113,450 $1,174,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net income is $65,000. $95,000 6,750 7,200 $81,400 13,500 4,600 112,500 225,000 680,000 680,000 212,000 $1,113,450 170,000 $1,174,500 2. The company purchases $106,000 in equipment. No equipment was sold. 3. Depreciation expense is $158,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $23,000. Required: Prepare the statement of cash flows using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.) 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