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Condensed financial data of Carla Company for 2025 and 2024 are presented below. Cash Carla Company Comparative Balance Sheet As of December 31, 2025 and 2024 Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 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 Additional information: Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue $7,010 Cost of goods sold 4,730 2025 2024 $1,770 $1,170 1,790 1,320 1,940 930 1,350 2,280 540 (1,200) (1,190) 1,300 1,420 $7,180 $6,340 $1,210 80 1,430 1,610 1,910 2,520 $7,180 890 260 $630 200 1,370 1,880 1,680 $910 240 1,560 1,740 1,890 $6,340 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 indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesise.g. (15,000))

Condensed financial data of Carla Company for 2025 and 2024 are presented below. Cash Carla Company Comparative Balance Sheet As of December 31, 2025 and 2024 Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 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 Additional information: Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue $7,010 Cost of goods sold 4,730 2025 2024 $1,770 $1,170 1,790 1,320 1,940 930 1,350 2,280 540 (1,200) (1,190) 1,300 1,420 $7,180 $6,340 $1,210 80 1,430 1,610 1,910 2,520 $7,180 890 260 $630 200 1,370 1,880 1,680 $910 240 1,560 1,740 1,890 $6,340 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 indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesise.g. (15,000))

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Adjustments to reconcile net income to CARLA COMPANY STATEMENT OF CASH FLOWS < < < (Indirect Method) $ $ $
Transcribed Image Text:Adjustments to reconcile net income to CARLA COMPANY STATEMENT OF CASH FLOWS < < < (Indirect Method) $ $ $
Condensed financial data of Carla Company for 2025 and 2024 are presented below. Cash Carla Company Comparative Balance Sheet As of December 31, 2025 and 2024 Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 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 Additional information: Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue $7,010 Cost of goods sold 4,730 2025 2024 $1,770 $1,170 1,790 1,320 930 1,350 1,940 1,680 (1,200) (1,190) 1,300 1,420 $7,180 $6,340 2,280 540 $1,210 80 1,430 1,610 2,520 $7,180 890 1,910 260 $630 200 1,370 1,880 $910 240 1,560 1,740 1,890 $6,340 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 indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesise.g. (15,000))
Transcribed Image Text:Condensed financial data of Carla Company for 2025 and 2024 are presented below. Cash Carla Company Comparative Balance Sheet As of December 31, 2025 and 2024 Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 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 Additional information: Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue $7,010 Cost of goods sold 4,730 2025 2024 $1,770 $1,170 1,790 1,320 930 1,350 1,940 1,680 (1,200) (1,190) 1,300 1,420 $7,180 $6,340 2,280 540 $1,210 80 1,430 1,610 2,520 $7,180 890 1,910 260 $630 200 1,370 1,880 $910 240 1,560 1,740 1,890 $6,340 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 indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesise.g. (15,000))
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