The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS...

 

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The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 2024 $113,450 81,600 104,000 5,800 525,000 826,000 (437,000) $1,218,850 $108,000 7,050 9,800 117,500 745,000 231,500 $1,218,850 2023 $134,600 96,500 88,100 2,900 525,000 715,000 (286,000) $1,276, 100 $93, 100 14, 100 5,900 235,000 745,000 183,000 $1,276, 100 Additional Information for 2024: 1. Net income is $78,000. 2. The company purchases $111,000 in equipment. No equipment was sold. 3. Depreciation expense is $151,000. 4. The company repays $117,500 in notes payable. 5. The company declares and pays a cash dividend of $29,500. Required Prepare statement of cash flows The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 2024 $113,450 81,600 104,000 5,800 525,000 826,000 (437,000) $1,218,850 $108,000 7,050 9,800 117,500 745,000 231,500 $1,218,850 2023 $134,600 96,500 88,100 2,900 525,000 715,000 (286,000) $1,276, 100 $93, 100 14, 100 5,900 235,000 745,000 183,000 $1,276, 100 Additional Information for 2024: 1. Net income is $78,000. 2. The company purchases $111,000 in equipment. No equipment was sold. 3. Depreciation expense is $151,000. 4. The company repays $117,500 in notes payable. 5. The company declares and pays a cash dividend of $29,500. Required Prepare statement of cash flows

Answer rating: 100% (QA)

cash flow statement A Cash flow from operating activity Net income 78000 Taxes 98... View the full answer