Preview File Edit View Go View Tools Window Help Fri Sep 6 8:16 PM ✓ Screenshot 2024-... Screenshot 2024-09... Inspector Zoom Share Highlight Rotate View Inspector Zoom Share Highlight Rotate Markup Form Filling Search Cash Flows from Operating Activities SUNLAND SKI HAUS Statement of Cash Flows For the Year Ended December 31, 2025 Net Income justments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Amortization of Trademark Loss on Sale of Equipment $ 10980 4000 3900 ncrease in Accounts Receivable (5000) ncrease in Inventories (36000) Decrease in Prepaid Insurance ncrease in Accounts Payable 15300 $ 86700 Cash Flows from Financing Activities Dividend Payments (20000) Principal Payment on Long-Term Loan (56000) 2000 Proceeds on Short-Term Loan (23600) ncrease in Income Taxes Payable 6600 Cash Flows from Financing Activities Decrease in Wages Payable (4800) Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Available-for-Sale Investments 24000 Sale of Equipment 16020 Purchase of Equipment (72900) Net Cash Used by Investing Activities Cash Flows from Financing Activities Dividend Payments (20000) Principal Payment on Long-Term Loan (56000) Proceeds on Short-Term Loan (23600) Cash Flows from Financing Activities Net Decrease in Cash Cash, January 1, 2025 Cash, December 31, 2025 Preview File Edit View Go Tools Window Help く Screenshot 2024-... 0 Inspector Zoom Share Highlight Rotate View SUNLAND SKI HAUS INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2025 Sales Cost of goods sold Gross profit Operating expenses $550,900 305,000 245,900 94,000 Operating income 151,900 Interest expense $20,900 Loss on sale of equipment 3,900 24,800 Income before tax 127,100 Income tax expense 40,400 Net income $86,700 Additional information: 1. Dividends in the amount of $20,000 were declared and paid during 2025. 2. Depreciation expense and amortization expense are included in operating expenses. 3. Equipment that had a cost of $24,900 and was 20% depreciated was sold during 2025. Fri Sep 6 8:15 PM Screenshot 2024-09-... View (i) Inspector D Zoom Share Highlight Rotate Markup Form Filling Search Sunland Ski Haus had the following statements prepared as of December 31, 2025. SUNLAND SKI HAUS COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2025 AND 2024 2025 2024 Cash $2,400 $4,000 Accounts receivable 101,000 96,000 Short-term debt investments (available-for-sale) 96,000 120,000 Inventories 90,000 54,000 Prepaid insurance 4,100 6,100 Ski equipment 90,000 42,000 Accumulated depreciation-equipment (24,000) (18,000) Trademarks 79,000 83,000 Total assets $438,500 $387,100 Accounts payable $92,300 $77,000 Income taxes payable 21,600 15,000 Wages payable 4,100 8,900 Short-term loans payable 23,600 0 Long-term loans payable 74,000 130,000 100,000 100,000 Additional paid-in capital 20,000 20,000 Retained earnings Total liabilities & stockholders' equity 102,900 36,200 $438,500 $387,100 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).) Common stock, $1 par O 123 396 SEP 1 5 CO 6 C A Zoom ☑ W O 8 M 11 12 76 5 1
Preview File Edit View Go View Tools Window Help Fri Sep 6 8:16 PM ✓ Screenshot 2024-... Screenshot 2024-09... Inspector Zoom Share Highlight Rotate View Inspector Zoom Share Highlight Rotate Markup Form Filling Search Cash Flows from Operating Activities SUNLAND SKI HAUS Statement of Cash Flows For the Year Ended December 31, 2025 Net Income justments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Amortization of Trademark Loss on Sale of Equipment $ 10980 4000 3900 ncrease in Accounts Receivable (5000) ncrease in Inventories (36000) Decrease in Prepaid Insurance ncrease in Accounts Payable 15300 $ 86700 Cash Flows from Financing Activities Dividend Payments (20000) Principal Payment on Long-Term Loan (56000) 2000 Proceeds on Short-Term Loan (23600) ncrease in Income Taxes Payable 6600 Cash Flows from Financing Activities Decrease in Wages Payable (4800) Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Available-for-Sale Investments 24000 Sale of Equipment 16020 Purchase of Equipment (72900) Net Cash Used by Investing Activities Cash Flows from Financing Activities Dividend Payments (20000) Principal Payment on Long-Term Loan (56000) Proceeds on Short-Term Loan (23600) Cash Flows from Financing Activities Net Decrease in Cash Cash, January 1, 2025 Cash, December 31, 2025 Preview File Edit View Go Tools Window Help く Screenshot 2024-... 0 Inspector Zoom Share Highlight Rotate View SUNLAND SKI HAUS INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2025 Sales Cost of goods sold Gross profit Operating expenses $550,900 305,000 245,900 94,000 Operating income 151,900 Interest expense $20,900 Loss on sale of equipment 3,900 24,800 Income before tax 127,100 Income tax expense 40,400 Net income $86,700 Additional information: 1. Dividends in the amount of $20,000 were declared and paid during 2025. 2. Depreciation expense and amortization expense are included in operating expenses. 3. Equipment that had a cost of $24,900 and was 20% depreciated was sold during 2025. Fri Sep 6 8:15 PM Screenshot 2024-09-... View (i) Inspector D Zoom Share Highlight Rotate Markup Form Filling Search Sunland Ski Haus had the following statements prepared as of December 31, 2025. SUNLAND SKI HAUS COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2025 AND 2024 2025 2024 Cash $2,400 $4,000 Accounts receivable 101,000 96,000 Short-term debt investments (available-for-sale) 96,000 120,000 Inventories 90,000 54,000 Prepaid insurance 4,100 6,100 Ski equipment 90,000 42,000 Accumulated depreciation-equipment (24,000) (18,000) Trademarks 79,000 83,000 Total assets $438,500 $387,100 Accounts payable $92,300 $77,000 Income taxes payable 21,600 15,000 Wages payable 4,100 8,900 Short-term loans payable 23,600 0 Long-term loans payable 74,000 130,000 100,000 100,000 Additional paid-in capital 20,000 20,000 Retained earnings Total liabilities & stockholders' equity 102,900 36,200 $438,500 $387,100 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).) Common stock, $1 par O 123 396 SEP 1 5 CO 6 C A Zoom ☑ W O 8 M 11 12 76 5 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education