CashAccounts receivable (net)InventoryLandEquipmentTotalAccumulated depreciationAccounts payableNotes payable-short-termNotes payable-long-termCommon stockRetained earningsTotalDecember 312024$42,0002025$77,800145,00083,000168,00060,000501,000$854,000 $1,232,800202,00020,000788,000$80,000 $111,00048,00085,00030,00066,000169,000417,00074,000$854,000 $1,232,800306,000483,000217,800 Additional data for 2025:1.2.3.4.5.6.7.Net income was $225,000.Depreciation was $31,000.Land was sold at its original cost.Dividends of $81,200 were paid.Equipment was purchased for $84,000 cash.A long-term note for $203,000 was used to pay for an equipment purchase.Common stock was issued to pay a $66,000 long-term note payable.Prepare a statement of cash flows for the year ending December 31, 2025. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)

A cash flow statement is a financial report that details how cash entered and left a business during…

Cash Accounts receivable (net) Inventory Land Equipment Total Accumulated depreciation Accounts payable Notes payable-short-term Notes payable-long-term Common stock Retained earnings Total December 31 2024 $42,000 83,000 168,000 60,000 501,000 $80,000 48,000 66,000 169,000 417,000 2025 $77,800 145,000 74,000 202,000 20,000 $854,000 $1,232,800 788,000 $111,000 85,000 30,000 306,000 483,000 217,800 $854,000 $1,232,800

Cash Accounts receivable (net) Inventory Land Equipment Total Accumulated depreciation Accounts payable Notes payable-short-term Notes payable-long-term Common stock Retained earnings Total December 31 2024 $42,000 83,000 168,000 60,000 501,000 $80,000 48,000 66,000 169,000 417,000 2025 $77,800 145,000 74,000 202,000 20,000 $854,000 $1,232,800 788,000 $111,000 85,000 30,000 306,000 483,000 217,800 $854,000 $1,232,800

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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