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Accountants for Carlson, Inc. have assembled the following data for the year ended December 31, 2024 .. (Click the icon to view the current accounts.)
Accountants for Carlson, Inc. have assembled the following data for the year ended December 31, 2024 .. (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Carlson's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash Investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that the box empty, do not select a label or enter a zero.) Carlson, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income 73,500 Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense 21,000 Gain on Sale of Building (1,500) Decrease in Accounts Receivable 5,600 Increase in Merchandise Inventory (3.000) Increase in Accounts Payable 1,500 Decrease in Income Tax Payable (2,400) 21,200 Net Cash Provided by. (used for Operating Activities 94.700 Data table 2024 2023 Current Assets: Cash $ 90,100 $ 16,000 69,500 Accounts Receivable Merchandise Inventory Current Liabilities: 63,900 85,000 74,000 57,300 55,800 Accounts Payable Income Tax Payable 14,100 16,500 Print Done Data table Transaction Data for 2024: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold $ 40,000 21,000 75,000 122,000 53,000 Payment of notes payable Payment of cash dividends Issuance of notes payable to borrow cash Gain on sale of building Net income $ 42,100 48,000 58,000 1,500 73.500
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