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Exercise 11-10A Prepare a statement of cash flows-indirect method (LO11-3, 11-4, 11-5) The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets Cash 142,950 $ 154,000 Accounts receivable 76,800 90,500 Inventory 92,000 77,300 Prepaid rent 3,400 1,700 Long-term assets Land 465,000 465,000 Equipment 762,000 655,000 Accumulated depreciation (421,000) (262,000) Total assets $1,121,150 $1,181,500 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 96,000 $ 82,300 Interest payable 6,750 13,500 Income tax payable 7,400 4,700 Long-term liabilities: Notes payable 112,500 225,000 Stockholders' equity: Common stock 685,000 685,000 Retained earnings 213,500 171,000 Total liabilities and stockholders' equity $1,121,150 $1,181,500 Additional Information for 2021: 1. Net income is $66,000. 2. The company purchases $107.000 in equipment. 3. Depreciation expense is $159,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $23,500. Saved 3/Chapter 116 0 DETTU VODIFI For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities tes $ 0 Net cash flows from operating activities Cash Flows from Investing Activities 0 Net cash flows from investing activities Cash Flows from Financing Activities 0 Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period 0