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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:
Cash	$	154,350	$	169,000
Accounts receivable		74,400		87,500
Inventory		86,000		71,900
Prepaid rent		2,200		1,100
Long-term assets:
Land		435,000		435,000
Equipment		726,000		625,000
Accumulated depreciation		(403,000)		(250,000)
Total assets	$	1,074,950	$	1,139,500
Liabilities and Stockholders' Equity:
Current liabilities:
Accounts payable	$	90,000	$	76,900
Interest payable		6,750		13,500
Income tax payable		6,200		4,100
Long-term liabilities:
Notes payable		112,500		225,000
Stockholders' equity:
Common stock		655,000		655,000
Retained earnings		204,500		165,000
Total liabilities and stockholders' equity	$	1,074,950	$	1,139,500

Additional Information for 2018:

1. Net income is $60,000.

2. The company purchases $101,000 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 $20,500.

Required:

Prepare the statement of cash flows using the indirect method.

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