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A comparative balance sheet for Skysong Corporation is presented as follows. Additional information: 1. Net income for 2025 was $127,080. No gains or losses were
A comparative balance sheet for Skysong Corporation is presented as follows. Additional information: 1. Net income for 2025 was $127,080. No gains or losses were recorded in 2025 . 2. Cash dividends of $62,800 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. Prepare a statement of cash flows for 2025 for Skysong Corporation. (Show amounts that decrease cash flow with either a s sign e.g. 15,000 or in parenthesis e.g. (15,000). Skysong Corporation Statement of Cash Flows For the Year Ended December 31, 2025 Cash Flows from Operating Activities Adjustments to reconcile net income to Cash at End of Year Issued common stock to retire $ 50000 of bonds outstanding Determine Skysong Corporation's current cash debt coverage, cash debt coverage, and free cash flow. (Round current cash debt coverage and cash debt coverage to 2 decimal places., e.g. 0.67:1. Show amount that decrease cash flow with either a-sign e.g. 15,000 or in parenthesis e.g. (15,000). Comment on its liquidity and financial flexibility. Skysong has liquidity. Its financial flexibility is
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