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 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 510,000 510,000 814,000 700,000 434,000) (280,000) $1,193,100 $1,249,800 $ $ 105,000 6,900 9,200 90,400 13,800 5,600 115,000 730,000 227,000 51, 193, 100 230,000 730.000 180,000 $1,249,800 Additional Information for 2021 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. 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, 2021 Cash Flows from Operating Activities Net income $ 75,000 Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Decrease in accounts receivable Increase in inventory Increase in prepaid rent Increase in accounts payable $ 75,000 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Decrease in accounts receivable Increase in inventory Increase in prepaid rent Increase in accounts payable $ 75,000 Net cash flows from operating activities Cash Flows from Investing Activities 0 Net cash flows from investing activities Cash Flows from Financing Activities VUUUUU Increase in accounts payable $ $ Net cash flows from operating activities Cash Flows from Investing Activities 75,000 0 Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities 0 Cash at the beginning of the period Cash at the end of the period $ 0