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Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024 (Click the icon to view the current accounts)
Accountants for Morston, 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 Morston's statement of cash flows using the indirect method include an accompanying schedule o Current Assets Complete the statement one section at a time, beginning with the cash flows from operating activities (Use label or enter a zero) Morston, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Depreciation Expense Gain on Sale of Building Decrease in Accounts Receivable Increase in Accounts Payable Increase in Merchandise Inventory Decrease in Income Tax Payable Etext pages Calculator 2024 2023 Cashi Accounts Receivable Merchandise Inventory $ 97,300 $ 22.000 64,600 69,000 78,000 76,000 Current Liabilibes Accounts Payable 58,100 56,300 Income Tax Payable 14,600 16,900 70500 Data table 17000 (5000) 4400 Transaction Data for 2024: Issuance of common stock for $43,000 Payment of notes cash payable (2000) Depreciation expense 17,000 Payment of cash dividends 1400 Purchase of equipment with cash 71,000 Issuance of notes (2400) payable to borrow cash Acquisition of land by issuing 123,000 Gain on sale of building long-term notes payable Book value of building sold 52,000 Not income
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