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PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 111,950 80,800 102,000 5,400 $ 129,000 95,500 86,300 2,700 515,000 818,000 (435,000)

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PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 111,950 80,800 102,000 5,400 $ 129,000 95,500 86,300 2,700 515,000 818,000 (435,000) $1,198, 150 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 515,000 795,000 (282,000) $1,251,588 $ $ 196,000 6,750 9,400 91,300 13,500 5,700 112,500 225,000 735,000 228,500 $1,198, 150 735,000 181,200 11, 251, 588 Additional Information for 2021 1. Net income is $76.000. 2. The company purchases $113,000 in equipment. 3. Depreciation expense is $153,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $28,500. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amour

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