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all answers please!! Balance sheets December 31,2024 and 2023 Assets 2024 2923 Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment: Accumulated
all answers please!!
Balance sheets December 31,2024 and 2023 Assets 2024 2923 Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment: Accumulated depreciation Total assets Liabilities and Stockholders 4 Equity Current 1iabilities: Accounts payable Interest payable Income tax payable Long-tern liablilties: Notes payable Stockholders: equity: Comnon stock Retained earnings Total 11abilities and stockholders" equity \begin{tabular}{rr} 5156,250 & $171,500 \\ 74,000 & 87,000 \\ 85,009 & 71,090 \\ 2,000 & 1,000 \\ 430,000 & 430,000 \\ 720,000 & 620,000 \\ (400,000) & (248,000) \\ \hline$1,067,259 & $1,132,500 \\ \hline 589,000 & $76,000 \\ 6,750 & 13,500 \\ 6,000 & 4,000 \\ 112,500 & 225,000 \\ 650,000 & 650,000 \\ 203,000 & 164,000 \\ \hline$1,067,250 & $1,132,500 \\ \hline \end{tabular} Additional Information for 2024. Additional Information for 2024: 1. Net income is $59,000. 2. The company purchases $100,000 in equipment. No equipment was sold. 3. Depreciation expense is $152,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $20,000 Required: Prepare the statement of cash flows using the indirect method. (Amounts to be deducted, cash outflows, ond any decrease in cash should be indicated with a minus sign.) Step by Step Solution
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