The balance sheets for Plasma Screens Corporation, along with additional information are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 116,500 80,400 101,000 5,200 136,800 95,000 85,400 2,600 510,000 510,000 814,000 700,000 (434,000) (280,000) $1,193, 100 $1,249,800 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets 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 $ $ 105,000 6,900 9,200 90,400 13,800 5,600 230,000 115,000 730,000 227,000 $1,193, 100 730,000 180,000 $1,249,800 Additional Information for 2021: 1. Net income is $75,000. 2. The company purchases $114,000 in equipment. 3. Depreciation expense is $154,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $28,000.