A comparative balance sheet for Marin Corporation is presented as follows. December 31 Assets 2025 2024 Cash $72,900 $22,000 Accounts receivable 84,190 68,290 Inventory 182,190 191.290 Land 73,190 112,290 Equipment 262,190 202,290 Accumulated depreciation-equipment (71.190) (44.290) Total $603,470 $551,870 Liabilities and Stockholders' Equity Accounts payable $36,190 $49,290 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164.000 Retained earnings 203,280 138,580 Total $603,470 $551,870 Additional information: 1. Net income for 2025 was $129,380. No gains or losses were recorded in 2025. 2 Cash dividends of $64,680 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. (a) Prepare a statement of cash flows for 2025 for Marin Corporation. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to Marin Corporation Statement of Cash Flows
A comparative balance sheet for Marin Corporation is presented as follows. December 31 Assets 2025 2024 Cash $72,900 $22,000 Accounts receivable 84,190 68,290 Inventory 182,190 191.290 Land 73,190 112,290 Equipment 262,190 202,290 Accumulated depreciation-equipment (71.190) (44.290) Total $603,470 $551,870 Liabilities and Stockholders' Equity Accounts payable $36,190 $49,290 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164.000 Retained earnings 203,280 138,580 Total $603,470 $551,870 Additional information: 1. Net income for 2025 was $129,380. No gains or losses were recorded in 2025. 2 Cash dividends of $64,680 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. (a) Prepare a statement of cash flows for 2025 for Marin Corporation. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to Marin Corporation Statement of Cash Flows
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:A comparative balance sheet for Marin Corporation is presented as follows.
December 31
Assets
2025
2024
Cash
$72,900
$22,000
Accounts receivable
84,190
68,290
Inventory
182,190
191,290
Land
73,190
112,290
Equipment
262,190
202,290
Accumulated depreciation-equipment
(71.190) (44,290)
Total
$603,470 $551,870
Liabilities and Stockholders' Equity
Accounts payable
$ 36,190
$49,290
Bonds payable
150,000
200,000
Common stock ($1 par)
214,000
164,000
Retained earnings
203,280
138.580
Total
$603,470
$551,870
Additional information:
1.
Net income for 2025 was $129,380. No gains or losses were recorded in 2025.
2.
Cash dividends of $64,680 were declared and paid.
3.
Bonds payable amounting to $50,000 were retired through issuance of common stock.
(a)
Prepare a statement of cash flows for 2025 for Marin Corporation. (Show amounts that decrease cash flow with either a - sign e.g.
-15,000 or in parenthesis e.g. (15,000).)
Adjustments to reconcile net income to
Marin Corporation
Statement of Cash Flows
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education