Cash Receivables Pat Metheny Company Comparative Balance Sheet As of December 31, 2025 and 2024 Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings Pat Metheny Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,900 Cost of goods sold Gross margin Selling and administrative expense Income from operations Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business 4,700 2,200 930 1,270 80 1,350 540 810 260 $550 2025 $1,800 1,750 1,600 1,900 $1,200 200 1,400 (1,200) (1,170) 1,300 1,420 $7,150 $6,300 1,900 2,450 2024 $7,150 $1,150 1,300 1,900 1,700 $900 250 1,550 1,700 1,900 $6,300

Cash Receivables Pat Metheny Company Comparative Balance Sheet As of December 31, 2025 and 2024 Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings Pat Metheny Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,900 Cost of goods sold Gross margin Selling and administrative expense Income from operations Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business 4,700 2,200 930 1,270 80 1,350 540 810 260 $550 2025 $1,800 1,750 1,600 1,900 $1,200 200 1,400 (1,200) (1,170) 1,300 1,420 $7,150 $6,300 1,900 2,450 2024 $7,150 $1,150 1,300 1,900 1,700 $900 250 1,550 1,700 1,900 $6,300

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.9E

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Cash
Receivables
Inventory
Plant assets
Accumulated depreciation
Long-term investments (held-to-maturity)
Pat Metheny Company
Comparative Balance Sheet
As of December 31, 2025 and 2024
Accounts payable
Accrued liabilities
Bonds payable
Common stock
Retained earnings
Pat Metheny Company
Income Statement
For the Year Ended December 31, 2025
Sales revenue
Cost of goods sold
Gross margin
Selling and administrative expense
Income from operations
Other revenues and gains
Gain on sale of investments
Income before tax
Income tax expense
Net income
Cash dividends
Income retained in business
$6,900
4,700
2,200
930
1,270
80
1,350
540
810
260
$550
2025
$1,800
1,750
1,600
1,900
(1,200)
1,300
$1,200
200
1,400
2024
1,900
2,450
$1,150
1,300
1,900
$7,150 $6,300
1,700
(1,170)
1,420
$900
250
1,550
1,700
1,900
$7,150 $6,300

Additional information:
During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2025.
Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule) (Show amounts in the investing and financing sections that decrease cash flow with either a
sign eg-15,000 or in parenthesis es (15,000))
PAT METHENY COMPANY
STATEMENT OF CASH FLOWS
(Direct Method)

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