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2. 10.00 points The balance sheet for Plasma Screens Corporation, along with additional information, are provided below PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets: s 114.250 S 128400 Cash Accounts receivable Inventory Prepaid rent 79,200 98,000 93500 98,00082,700 4,600 2,300 Long-term assets: Land Equipment Accumulated depreciation 495,000495,000 802,000 685,000 431,000) (274,000) Total assets $1,162,050 $1,212,900 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable $ 102,000 $ 87,700 8.600 12900 107,500215.000 715,000715,000 Income tax payable 6,450 8,600 5,300 Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 222,500177,000 Total liabilities and stockholders' equity $1,162,050 $1,212,900 Additional Information for 2018 1. Net income is $72,000 2. The company purchases $117,000 in equipment. 3. Depreciation expense is $157,000. 4. The company repays $107,500 in notes payable 5 The company declares and pays a cash dividend of $26,500. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any deorease in cash as negative amounts.) PLASMA SCREENS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2018 Cash Flows from Operating Activities Adjustments to reconcile net income to net 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 Cash at the beginning of the period Cash at the end of the period

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