The balance sheet for Plasma Screens Corporation along with additional information is provided below:

Required:

Prepare the statement of cash flows using the indirect method.
 

Transcribed Image Text:

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2015 and 2014 2015 2014 Assets Current assets: Cash Accounts receivable $ 126,800 97,000 89,000 $ 108,900 82,000 Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation 105,000 6,000 3,000 530,000 830,000 530,000 720,000 (288.000) S1,277.800 (438,000) $1,223,900 Total assets PLASMA SCREENS CORPORATION Balance Sheets December 31, 2015 and 2014 2015 2014 Assets Current assets: Cash Accounts receivable $ 126,800 97,000 89,000 $ 108,900 82,000 Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation 105,000 6,000 3,000 530,000 830,000 530,000 720,000 (288.000) S1,277.800 (438,000) $1,223,900 Total assets

Answer rating: 100% (QA)

Statement of cash flows Indirect method Statement of cash ... View the full answer