Please do not give solution in image format thanku A comparative balance sheet for Sweet Corporation is presented as follows.AssetsCashAccounts receivableInventoryLandEquipmentAccumulated depreciation-equipmentTotalLiabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotalAdditional information:12.3.December 312025$72,67084,500182,50073,500262,500202,830(71,500)(44,830)$604,170 $553,490$36,500150,0002024$ 22,00068,830191,830214,000203,670$604,170112,830$49,830200,000164,000139,660$553,490Net income for 2025 was $130,000. No gains or losses were recorded in 2025.Cash dividends of $65,990 were declared and paid.Bonds payable amounting to $50,000 were retired through issuance of common stock. (a)Prepare a statement of cash flows for 2025 for Sweet Corporation. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000))Cash Flows from Operating ActivitiesNet IncomeAdjustments to reconcile net income toCash at Beginning of YearIncrease In Accounts ReceivableDepreciation ExpenseDecrease In InventoryDecrease in Accounts PayableCash at End of YearCash at End of YearDecember 31, 2025Issued common stock to retire SeTextbook and MediaSweet CorporationStatement of Cash FlowsvVV$of bonds outstanding

Cash flow statement is prepared to provide a detailed picture of what happened to a business's cash…

A comparative balance sheet for Sweet Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2025 $72,670 84,500 182,500 73,500 262,500 (71,500) (44,830) $604,170 $553,490 $36,500 2024 $ 22,000 68,830 191,830 150,000 214,000 203,670 $604,170 112,830 202,830 $49,830 200,000 164,000 139,660 $553,490

A comparative balance sheet for Sweet Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2025 $72,670 84,500 182,500 73,500 262,500 (71,500) (44,830) $604,170 $553,490 $36,500 2024 $ 22,000 68,830 191,830 150,000 214,000 203,670 $604,170 112,830 202,830 $49,830 200,000 164,000 139,660 $553,490

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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