Kingbird Ski Haus had the following statements prepared as of December 31, 2025. KINGBIRD SKI HAUS COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2025 AND 2024 Additional information: 1. Dividends in the amount of $19,000 were declared and paid during 2025. 2. Depreciation expense and amortization expense are included in operating expenses. 3. Equipment that had a cost of $25,000 and was 20% depreciated was sold during 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).) Cash Flows from Operating Activities KINGBIRD SKI HAUS Statement of Cash Flows For the Year Ended December 31, 2025 2025 2024 Cash $2,500 $4,000 Accounts receivable 104,000 99,000 Short-term debt investments (available-for-sale) 95,000 122,000 Inventories 93,000 54,000 Prepaid insurance 4,100 5,800 Ski equipment 91,000 44,000 Accumulated depreciation-equipment (23,500) (17,500) Trademarks 78,000 85,000 Net Income Total assets $444,100 $396,300 Accounts payable $95,200 $76,000 Income taxes payable 21,400 16,000 Wages payable 3,900 9,100 Short-term loans payable 23,700 0 Long-term loans payable 76,400 123,000 Common stock, $1 par 100,000 100,000 Additional paid-in capital 20,000 20,000 Retained earnings 103,500 52,200 Total liabilities & stockholders' equity $444,100 $396,300 KINGBIRD SKI HAUS INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2025 Sales $532,400 Cost of goods sold 303,000 Gross profit 229,400 Operating expenses 93,000 Operating income 136,400 Interest expense $20,800 Loss on sale of equipment 4,100 24,900 Income before tax 111,500 Income tax expense Net income Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense Amortization of Trademark Loss on Sale of Equipment Increase in Accounts Receivable Increase in Inventories Decrease in Prepaid Insurance Increase in Accounts Payable Decrease in Income Taxes Payable Decrease in Wages Payable Cash Flows from Operating Activities Cash Flows from Investing Activities Sale of Available-for-Sale Investments 41,200 $70,300 Sale of Equipment Purchase of Equipment $ $ Purchase of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Dividend Payments Proceeds on Long-Term Loan Proceeds on Short-Term Loan Net Cash Provided by Operating Activities Net Increase in Cash Cash, January 1, 2025 Cash, December 31, 2025 eTextbook and Media $