The balance sheets for Plasma Screens Corporation, along with additional information, are provided below. Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities 2021 2020 $ 155,850 75,200 88,000 2,600 $ 174,600 88,500 73,700 1,300 Adjustments to reconcile net income to net cash flows from operating activities 445,000 738,000 (409,000) $1,095,650 445,000 635,000 (254,000) $1,164,100 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 $ $ 92,000 7,050 6,600 78,700 14,100 4,300 117,500 235,000 Net cash flows from operating activities Cash Flows from Investing Activities 665,000 207,500 $1,095,650 665,000 167,000 $1,164,100 Additional Information for 2021: Net cash flows from investing activities Cash Flows from Financing Activities 1. Net income is $62,000. 2. The company purchases $103,000 in equipment 3. Depreciation expense is $155,000. 4. The company repays $117,500 in notes payable. 5. The company declares and pays a cash dividend of $21,500. Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period