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 $ 112, 700 81,200 103,000 5,600 $ 131,800 96,000 87,200 2,800 520,000 822,000 (436,000) $1,208,500 520,000 710,000 (284,000) $1,263,800 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 $ $ 107,000 6,900 9,600 92,200 13,800 5,800 115,000 230,000 740,000 230,000 $1,208,500 740,000 182,000 $1,263,800 Additional Information for 2021: 1. Net income is $77,000. 2. The company purchases $112,000 in equipment 3. Depreciation expense is $152,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $29,000. 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 $ 77,000 Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense 152,000 Decrease in accounts receivable 14,800 Increase in inventory (15,800) Increase in prepaid rent Increase in accounts receivable Increase in prepaid rent Increase in accounts receivable $ 228,000 Net cash flows from operating activities Cash Flows from Investing Activities 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