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 Assets Current assets: Cash $ 156,250 $ 171,500 Accounts receivable 74,000 87,000 Inventory 85,000 71,000 Prepaid rent 2,000 1,000 Long-term assets: Land 430,000 430,000 Equipment 720,000 620,000 Accumulated depreciation (400,000 ) (248,000 ) Total assets $ 1,067,250 $ 1,132,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 89,000 $ 76,000 Interest payable 6,750 13,500 Income tax payable 6,000 4,000 Long-term liabilities: Notes payable 112,500 225,000 Stockholders' equity: Common stock 650,000 650,000 Retained earnings 203,000 164,000 Total liabilities and stockholders' equity $ 1,067,250 $ 1,132,500

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. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)

CH1 HOMEWORK O The balance sheets for Plasma Screens Corporation, along with additional Information are provided below. PLASMA RCREENS CORPORATION Balance sheets December 31, 2021 and 2020 points Current assets $ 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 Accounts receivable Inventory Prepaid rent Tong-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 Additional Information for 2021: 1. Net income is $59,000 2. The company purchases $100,000 in equipment. 3. Depreciation expense is $152,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $20,000. MacBook Air og * Net Income $ 50,000 Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Decrease in accounts receivable Increase in accounts payable Increase in Inventory Increase in prepaid rent Increase in income tax payable Decrease in interest payable Net cash flows from operating activities Cash Flows from Investing Activities Purchase of equipment Payment of cash dividends Payment of notes payable Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activitie Cash at the beginning of the period Cash at the end of the period