Prepare a statement of cash flows for 2025. (Show amounts that decrease cash flow with either a signeg-15,000 or in parenthesis (15,000) Sarasota Corporation Statement of Cash Flows For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Not Cash Provided by Operating Act Depreciation Expone Patent Amortization $ 15960 2500 Loss on Sale of Equipment 520 Increase In Current Assets (Other than Cas) (25000) Increase In Current L 24480 Net Cash Provided by Operating Activita✓ Cash Flows from Inverting Activities Sale of Equipment ✓ 11480 Addition to Building Investment In S Not Cash Used by investing Activities Cash Flow from Finding Activ Issuance of Bends Payment of Dividends Purchase of Treasury Stock Net Cash Provided by Financing Acti▼ Not increase in Cas Cash at Eginning of Period Cash at End of Period (28480) (34000) 51100 55250 4460 17310 32000) (20000) (11000) 20100 36930 22000 111710 Sarasota Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) $236,480 Current liabilities $151,480 Land 31,100 Bonds payable 101,480 Buildings 121,480 Common stock 181,100 Equipment 91,100 Retained earnings 45,100 Accum. depr.-buildings (31,480) Total $479,160 Accum. depr.-equipment (11,000) Patents 41,480 Total $479,160 The following information is available for 2025. 1. Net income was $55,350. 2. Equipment (cost $21,480 and accumulated depreciation $9,480) was sold for $11,480. 3. Depreciation expense was $5,480 on the building and $10,480 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,480. 6. An addition to the building was completed at a cost of $28,480. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $51,100 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000.

Prepare a statement of cash flows for 2025. (Show amounts that decrease cash flow with either a signeg-15,000 or in parenthesis (15,000) Sarasota Corporation Statement of Cash Flows For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Not Cash Provided by Operating Act Depreciation Expone Patent Amortization $ 15960 2500 Loss on Sale of Equipment 520 Increase In Current Assets (Other than Cas) (25000) Increase In Current L 24480 Net Cash Provided by Operating Activita✓ Cash Flows from Inverting Activities Sale of Equipment ✓ 11480 Addition to Building Investment In S Not Cash Used by investing Activities Cash Flow from Finding Activ Issuance of Bends Payment of Dividends Purchase of Treasury Stock Net Cash Provided by Financing Acti▼ Not increase in Cas Cash at Eginning of Period Cash at End of Period (28480) (34000) 51100 55250 4460 17310 32000) (20000) (11000) 20100 36930 22000 111710 Sarasota Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) $236,480 Current liabilities $151,480 Land 31,100 Bonds payable 101,480 Buildings 121,480 Common stock 181,100 Equipment 91,100 Retained earnings 45,100 Accum. depr.-buildings (31,480) Total $479,160 Accum. depr.-equipment (11,000) Patents 41,480 Total $479,160 The following information is available for 2025. 1. Net income was $55,350. 2. Equipment (cost $21,480 and accumulated depreciation $9,480) was sold for $11,480. 3. Depreciation expense was $5,480 on the building and $10,480 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,480. 6. An addition to the building was completed at a cost of $28,480. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $51,100 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

off of these pictures Prepare a balance sheet at December 31, 2025.(Show only totals for current assets and current liabilities.) (List Property, Plant, and Equipment in order of Land, Buildings, and Equipment. Enter account name only and do not provide the descriptive information provided in the question)