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$141,050 $151,500 Accounts receivable 77,200 91,000 Inventory 93,000 78,200 Prepaid rent 3,600 1,800 Long-term assets: Land 470,000 470,000 Equipment 768,000 660,000 Accumulated depreciation (424,000) (264,000) Total assets$1,128,850 $1,188,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$97,000 $83,200 Interest payable 6,750 13,500 Income tax payable 7,600 4,800 Long-term liabilities: Notes payable 112,500 225,000 Stockholders' equity: Common stock 690,000 690,000 Retained earnings 215,000 172,000 Total liabilities and stockholders' equity$1,128,850 $1,188,500 Additional Information for 2021: Net income is $67,000. The company purchases $108,000 in equipment. Depreciation expense is $160,000. The company repays $112,500 in notes payable. The company declares and pays a cash dividend of $24,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

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