Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below. Cash Receivables Inventory Dridgeport Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 $1,800 1,750 1.630 1,910 [1.190) Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings Bridgeport 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 $6,890 4,730 2,160 1.220 90 1.310 550 760 260 $500 1.280 $7.180 $1,230 190 1.400 1,930 2.430 $7.180 Adjustments to reconcile net income to 2024 $1.130 1.320 1.890 1,720 (1,170) 1,410 $6,300 $910 240 1,540 1,600 1.930 $6.300 Additional information: During the year. $60 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 indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000)) BRIDGEPORT COMPANY STATEMENT OF CASH FLOWs (Indirect Method)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

no image based solution please experts

Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below.
Cash
Receivables
Inventory
Dridgeport Company
Comparative Balance Sheet
As of December 31, 2025 and 2024
Plant assets
Accumulated depreciation
Long-term investments (held-to-maturity)
Accounts payable
Accrued liabilities
Bonds payable
Common stock
Retained earnings
Bridgeport 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
$6,890
4,730
2,160
940
1.220
90
1.310
550
740
760
260
$500
Adjustments to reconcile net income to
2025
$1,800
1,750
1.630
1,910
11.1901
1.280
$7.180
$1,230
190
1.400
1,930
2.430
$7.180
ha
2024
$1.130
1.320
1.890
1,720
(1,170)
1,410
$6,300
~
5910
Additional informations
During the year, $60 of common stock was issued in exchange for plant assets. No plant assets were sold in 2025.
$
240
1,540
Prepare a 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. (15,000))
|
1,600
BRIDGEPORT COMPANY
STATEMENT OF CASH FLOWS
1.930
$6.300
(Indirect Method)
Transcribed Image Text:Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below. Cash Receivables Inventory Dridgeport Company Comparative Balance Sheet As of December 31, 2025 and 2024 Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings Bridgeport 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 $6,890 4,730 2,160 940 1.220 90 1.310 550 740 760 260 $500 Adjustments to reconcile net income to 2025 $1,800 1,750 1.630 1,910 11.1901 1.280 $7.180 $1,230 190 1.400 1,930 2.430 $7.180 ha 2024 $1.130 1.320 1.890 1,720 (1,170) 1,410 $6,300 ~ 5910 Additional informations During the year, $60 of common stock was issued in exchange for plant assets. No plant assets were sold in 2025. $ 240 1,540 Prepare a 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. (15,000)) | 1,600 BRIDGEPORT COMPANY STATEMENT OF CASH FLOWS 1.930 $6.300 (Indirect Method)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education