50 HW22-3 51 52 53 54 Prepare a Statement of Cash Flows under the indirect Method. Block Corporation Income Statement Year Ended December 31, 2025 $325,000 ($185,000) 55 56 Sales 57 Cost of Goods Sold 58 Depreciation Expense 59 Salary Expense 50 Interest Expense 51 Loss on the sale of Equipment 52 Gain on the Sale of Land 53 54 Net Income ($50,000) ($8,000) ($15,000) ($3,000) $4,000 $68,000 65 56 67 Balance Sheet 2025 2024 Change+- 2025 2024 Change+ 58 59 Cash $27,000 $14,000 $13,000 Accounts Payable op $17,000 $22,000 ($5,000) 0 Accounts Receivat op $37,000 $31,000 $6,000 Interest Payable op $19,000 $40,000 ($21,000) 1 Inventory op $40,000 $35,000 $5,000 Salaries Payable op $5,000 $12,000 ($7,000) 2 Prepaid Expense op $2,000 $2,000 $0 Notes Payable fa $18,000 3 Investments iv $27,000 $20,000 $7,000 Bonds Payable fa $10,000 $0 $40,000 $18,000 ($30,000) 4 Land iv $16,000 $21,000 5 Build. & Equip., net iv $140,000 $157,000 ($5,000) Common Stock ($17,000) Retained Earnings fa $143,000 $136,000 $7,000 $77,000 $30,000 $47,000 6 + 7 $289,000 $280,000 $9,000 $289,000 $280,000 $9,000 8 9 Additional Information: 0 A. Sold land. 1 B. Purchased $18,000 of equipment through the issuance of a note payable. 2 C. Paid bonds 3 D. Paid dividends 4 E. Sold equipment with a book value of $10,000 for a loss of $3,000. 5 F. Purchased Equipment for cash. 6