Please do not give solution in image format thanku Current Attempt in ProgressBridgeport Company's income statement contained the following condensed information.Bridgeport CompanyIncome StatementFor the Year Ended December 31, 2025Service revenueOperating expenses, excluding depreciationDepreciation expenseLoss on disposal of plant assetsIncome before income taxesIncome tax expenseNet incomeAccounts receivableAccounts payableIncome taxes payable20252024$96,00065,600 51,20020,800Bridgeport's balance sheets contained the following comparative data at December 31.$112,00011,200Adjustments to reconcile net income to$982,40088,00025,600YAccounts payable pertain to operating expenses.Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flowwith either a-sign eg-15,000 or in parenthesis e.g. (15,000))V$1,552,000BRIDGEPORT COMPANYStatement of Cash Flows (Partial) - Indirect MethodV1,096,000V456,00089,600$366,400$

Cash flows from operating activities: It is a section of the Statement of cash flow that explains…

Bridgeport Company's income statement contained the following condensed information. Bridgeport Company Income Statement For the Year Ended December 31, 2025 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $982,400 86,000 25,600 2024 Bridgeport's balance sheets contained the following comparative data at December 31. 2025 Accounts receivable $112,000 Accounts payable 65.600 Income taxes payable 20,800 Adjustments to reconcile net income to $1,552,000 $96,000 51,200 11,200 1,096,000 456,000 89,600 $366,400 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,0001) BRIDGEPORT COMPANY Statement of Cash Flows (Partial) - Indirect Method

Bridgeport Company's income statement contained the following condensed information. Bridgeport Company Income Statement For the Year Ended December 31, 2025 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $982,400 86,000 25,600 2024 Bridgeport's balance sheets contained the following comparative data at December 31. 2025 Accounts receivable $112,000 Accounts payable 65.600 Income taxes payable 20,800 Adjustments to reconcile net income to $1,552,000 $96,000 51,200 11,200 1,096,000 456,000 89,600 $366,400 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,0001) BRIDGEPORT COMPANY Statement of Cash Flows (Partial) - Indirect Method

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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