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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, 2021 and 2020 2021
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 $ 108,900 82,000 105,000 6,000 $ 126,800 97,000 89,600 3,000 Assets Current assets: sh 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 Le term liabilities Hotes payable Stockholders equity Common stock Rutind warnings Yotal bilis and stockholders' equity 530,000 830,000 (438.000) $1,223,900 530,000 720,000 (288,000) $1,277 800 $ 109.000 G900 210,000 94,000 1,800 6,000 11.000 0.000 190.000 7500 000 14000 122000 SI 2000 Additional Information for 2021: 1. Net income is $79,000. 2. The company purchases $110,000 in equipment 3. Depreciation expense is $150,000. 4. The company repays $115.000 in notes payable. 5. The company declares and pays a cash dividend of $30,000. Required: Prepare the statement of cash flows using the Indirect method. (List cash outflows and any derro Homework PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile not income to net cashows from operating activities BOOK Prim Retences Netcash flows from operating activities V O $ 0 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 hat the end of the period $ 0
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