Complete the statement one section at a time, beginning with the cash flows from operating activities. Rouse Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Rouse Exercise Equipment, Inc. reported the following financial statements for 2024: Rouse Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $713,000 Cost of Goods Sold 342,000 Gross Profit 371,000 Operating Expenses: Depreciation Expense $54,000 Other Operating Expenses 210,000 Total Operating Expenses 264,000 Net Income $107,000 Rouse Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets: Cash $17,000 $16,000 Accounts Receivable 57,000 46,000 Merchandise Inventory 79,000 90,000 Long-term Assets: Plant Assets 260,500 216,400 Accumulated Depreciation—Plant Assets (38,500) (32,400) Investments 96,000 73,000 Total Assets $471,000 $409,000 Liabilities Current Liabilities: Accounts Payable $72,000 $71,000 Salaries Payable 3,000 5,000 Long-term Liabilities: Notes Payable 61,000 69,000 Total Liabilities 136,000 145,000 Stockholders' Equity Common Stock, no par 45,000 34,000 Retained Earnings 290,000 230,000 Total Stockholders' Equity 335,000 264,000 Total Liabilities and Stockholders' Equity $471,000 $409,000 Rouse calculated the following amounts for 2024: • Acquisition value of plant assets, $92,000. • Payment of dividends, $47,000. • Payment of long-term notes payable, $8,000. • Cash receipt from issuance of common stock, $11,000. Rouse Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $47,900. No cash was received upon disposal. Prepare the company's statement of cash flows—indirect method—for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)

Complete the statement one section at a time, beginning with the cash flows from operating activities. Rouse Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Rouse Exercise Equipment, Inc. reported the following financial statements for 2024: Rouse Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $713,000 Cost of Goods Sold 342,000 Gross Profit 371,000 Operating Expenses: Depreciation Expense $54,000 Other Operating Expenses 210,000 Total Operating Expenses 264,000 Net Income $107,000 Rouse Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets: Cash $17,000 $16,000 Accounts Receivable 57,000 46,000 Merchandise Inventory 79,000 90,000 Long-term Assets: Plant Assets 260,500 216,400 Accumulated Depreciation—Plant Assets (38,500) (32,400) Investments 96,000 73,000 Total Assets $471,000 $409,000 Liabilities Current Liabilities: Accounts Payable $72,000 $71,000 Salaries Payable 3,000 5,000 Long-term Liabilities: Notes Payable 61,000 69,000 Total Liabilities 136,000 145,000 Stockholders' Equity Common Stock, no par 45,000 34,000 Retained Earnings 290,000 230,000 Total Stockholders' Equity 335,000 264,000 Total Liabilities and Stockholders' Equity $471,000 $409,000 Rouse calculated the following amounts for 2024: • Acquisition value of plant assets, $92,000. • Payment of dividends, $47,000. • Payment of long-term notes payable, $8,000. • Cash receipt from issuance of common stock, $11,000. Rouse Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $47,900. No cash was received upon disposal. Prepare the company's statement of cash flows—indirect method—for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Complete the statement one section at a time, beginning with the cash flows from operating activities.

Rouse Exercise Equipment, Inc.

Statement of Cash Flows

Year Ended December 31, 2024

Cash Flows from Operating Activities:

Net Income

Adjustments to Reconcile Net Income to Net Cash

Provided by (Used for) Operating Activities:

Net Cash Provided by (Used for) Operating Activities

	Cash Flows from Investing Activities:




	Net Cash Provided by (Used for) Investing Activities

	Cash Flows from Financing Activities:




	Net Cash Provided by (Used for) Financing Activities

	Net Increase (Decrease) in Cash
	Cash Balance, December 31, 2023
	Cash Balance, December 31, 2024

Rouse

Exercise Equipment, Inc. reported the following financial statements for

2024:

Rouse Exercise Equipment, Inc.

Income Statement

Year Ended December 31, 2024

Net Sales Revenue

$713,000

Cost of Goods Sold

342,000

Gross Profit

371,000

Operating Expenses:

Depreciation Expense

$54,000

Other Operating Expenses

210,000

Total Operating Expenses

264,000

Net Income

$107,000

Rouse Exercise Equipment, Inc.
Comparative Balance Sheet
December 31, 2024 and 2023
	2024	2023
Assets
Current Assets:
Cash	$17,000	$16,000
Accounts Receivable	57,000	46,000
Merchandise Inventory	79,000	90,000
Long-term Assets:
Plant Assets	260,500	216,400
Accumulated Depreciation—Plant Assets	(38,500)	(32,400)
Investments	96,000	73,000
Total Assets	$471,000	$409,000
Liabilities
Current Liabilities:
Accounts Payable	$72,000	$71,000
Salaries Payable	3,000	5,000
Long-term Liabilities:
Notes Payable	61,000	69,000
Total Liabilities	136,000	145,000
Stockholders' Equity
Common Stock, no par	45,000	34,000
Retained Earnings	290,000	230,000
Total Stockholders' Equity	335,000	264,000
Total Liabilities and Stockholders' Equity	$471,000	$409,000

Rouse

calculated the following amounts for

2024:

•

Acquisition value of plant assets,

$92,000.

•

Payment of dividends,

$47,000.

•

Payment of long-term notes payable,

$8,000.

•

Cash receipt from issuance of common stock,

$11,000.

Rouse

Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was

$47,900.

No cash was received upon disposal.

Prepare the company's statement of cash

flows—indirect

method—for

the year ended December 31,

2024.

Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)

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