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Business, 12.12.2019 22:31 ashleydaya

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 $ 141,800 $ 154,300
accounts receivable 77,600 91,500
inventory 94,000 79,100
prepaid rent 3,800 1,900
long-term assets:
land 475,000 475,000
equipment 774,000 665,000
accumulated depreciation (427,000 ) (266,000 )
total assets $ 1,139,200 $ 1,200,800
liabilities and stockholders' equity
current liabilities:
accounts payable $ 98,000 $ 84,100
interest payable 6,900 13,800
income tax payable 7,800 4,900
long-term liabilities:
notes payable 115,000 230,000
stockholders' equity:
common stock 695,000 695,000
retained earnings 216,500 173,000
total liabilities and stockholders' equity $ 1,139,200 $ 1,200,800
additional information for 2021:
net income is $68,000.
the company purchases $109,000 in equipment.
depreciation expense is $161,000.
the company repays $115,000 in notes payable.
the company declares and pays a cash dividend of $24,500.
required:
prepare the statement of cash flows using the indirect method.

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