The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: Additional...
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Accounting
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: Additional Information for 2024 : 1. Net income is $69,000. 2. The company purchases $120,000 in equipment. No equipment was sold. 3. Depreciation expense is $160,000. 4. The company repays $100,000 in notes payable. 5. The company declares and pays a cash dividend of $25,000. Required: Prepare the statement of cash flows using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.)
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