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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

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 $116,500 $136,800
Accounts receivable 80,400 95,000
Inventory 101,000 85,400
Prepaid rent 5,200 2,600
Long-term assets:
Land 510,000 510,000
Equipment 814,000 700,000
Accumulated depreciation (434,000) (280,000)
Total assets $1,193,100 $1,249,800
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $105,000 $90,400
Interest payable 6,900 13,800
Income tax payable 9,200 5,600
Long-term liabilities:
Notes payable 115,000 230,000
Stockholders' equity:
Common stock 730,000 730,000
Retained earnings 227,000 180,000
Total liabilities and stockholders' equity $1,193,100 $1,249,800

Additional Information for 2024:

  1. Net income is $75,000.
  2. The company purchases $114,000 in equipment. No equipment was sold.
  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. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.)

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