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 $ 108,900 $ 126,800 Accounts receivable 82,000 97,000 Inventory 105,000 89,000 Prepaid rent 6,000 3,000 Long-term assets: Land 530,000 530,000 Equipment 830,000 720,000 Accumulated depreciation (438,000 ) (288,000 ) Total assets $ 1,223,900 $ 1,277,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 109,000 $ 94,000 Interest payable 6,900 13,800 Income tax payable 10,000 6,000 Long-term liabilities: Notes payable 115,000 230,000 Stockholders' equity: Common stock 750,000 750,000 Retained earnings 233,000 184,000 Total liabilities and stockholders' equity $ 1,223,900 $ 1,277,800 Additional Information for 2021: Net income is $79,000. The company purchases $110,000 in equipment. Depreciation expense is $150,000. The company repays $115,000 in notes payable. The company declares and pays a cash dividend of $30,000. Required: Prepare the statement of cash flows using the indirect method. (

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typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

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1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know