The balance sheets for Plasma Screens Corporation, along with additional information, are provided below:

Additional Information for 2021:

Net income is $59,000. The company purchases $100,000 in equipment. Depreciation expense is $152,000. The company repays $112,500 in notes payable. The company declares and pays a cash dividend of $20,000.

Prepare the statement of cash flows using the indirect method.

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 156,250 74,000 85,000 2,000 171,500 87,000 71,000 1,000 430,000 720,000 (400,000) $1,067,250 430,000 620,000 (248,000). $1,132,500 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 $ $ 89,000 6,750 6,000 76,000 13,500 4,000 112,500 225,000 650,000 203,000 $1,067,250 650,000 164,000 $1,132,500 PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period