The comparative balance sheets for Acme Company appear below: Cash Accounts receivable ACME COMPANY Comparative Balance Sheet Assets Dec. 31, 2025 $38,000 18,000 Dec. 31, 2024 $13,000 14,000
The comparative balance sheets for Acme Company appear below: Cash Accounts receivable ACME COMPANY Comparative Balance Sheet Assets Dec. 31, 2025 $38,000 18,000 Dec. 31, 2024 $13,000 14,000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.10E
Related questions
Question
Do not give answer in image
![Current Attempt in Progress
The comparative balance sheets for Acme Company appear below:
Cash
Accounts receivable
Inventory
Prepaid insurance
Stock investments
Equipment
Accumulated depreciation-equipment
Total assets
Additional information:
Accounts payable
Bonds payable
Common stock
Retained earnings
Total liabilities and stockholder's equity
1.
2.
ACME COMPANY
Comparative Balance Sheet
3.
4.
Assets
Dec. 31, 2025
$38,000
18,000
25,000
7,000
-0-
60,000
(18,000)
Liabilities and Stockholders' Equity
$130,000
$25,000
37,000
40,000
28,000
$130,000
Dec. 31, 2024
$13,000
14,000
15,000
9,000
18,000
30,000
(14,000)
$85,000
$7,000
45,000
23,000
10,000
$85,000
Net income for the year ending December 31, 2025 was $30,000.
Cash dividends of $12,000 were declared and paid during the year.
Stock investments on balance sheet that had a book value of $18,000 were sold for $13,000.
Sales for 2025 are $130,000.
Prepare a statement of cash flows for the year ended December 31, 2025, 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).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd56e9c7b-6890-4f1d-871e-0176b2130677%2F2e541b59-f150-4e4b-aa14-ab7ab9de5689%2Ftruptvm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
The comparative balance sheets for Acme Company appear below:
Cash
Accounts receivable
Inventory
Prepaid insurance
Stock investments
Equipment
Accumulated depreciation-equipment
Total assets
Additional information:
Accounts payable
Bonds payable
Common stock
Retained earnings
Total liabilities and stockholder's equity
1.
2.
ACME COMPANY
Comparative Balance Sheet
3.
4.
Assets
Dec. 31, 2025
$38,000
18,000
25,000
7,000
-0-
60,000
(18,000)
Liabilities and Stockholders' Equity
$130,000
$25,000
37,000
40,000
28,000
$130,000
Dec. 31, 2024
$13,000
14,000
15,000
9,000
18,000
30,000
(14,000)
$85,000
$7,000
45,000
23,000
10,000
$85,000
Net income for the year ending December 31, 2025 was $30,000.
Cash dividends of $12,000 were declared and paid during the year.
Stock investments on balance sheet that had a book value of $18,000 were sold for $13,000.
Sales for 2025 are $130,000.
Prepare a statement of cash flows for the year ended December 31, 2025, 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).)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
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: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning