Exercise 11-10 Prepare a statement of cash flows-indirect method (LO11-2, 11-3) 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 Accounts receivable Inventory Prepaid rent $ 116,500 $ 136,800 95,000 85,400 2,600 80,400 101,000 5,200 Long-term assets Land Equipment Accumulated depreciation 510,000 700,000 (434,000) (280,000) 510,000 814,000 Total assets $1,193,100 $ 1,249,800 Liabilities and Stockholders' Equity: Current liabilities Accounts payable Interest payable $ 105,000 $ 90,400 13,800 5,600 6,900 9,200 Income tax payable Long-term liabilities Notes payable Stockholders' equity: Common stock 115,000 230,000 730,000 227,000 730,000 180,000 Retained earnings Total liabilities and stockholders' equity $1,193,100 $ 1,249,800 Additional Information for 2018: 1. Net income is $75,000 2. The company purchases $114,000 in equipment. 3. Depreciation expense is $154,000 4. The company repays $115,000 in notes payable 5 .The company declares and pays a cash dividend of $28,000