B B C C F G D E MINERALS PLUS, INC. Income Statement Year Ended September 30, 2025 $ 235,000 $ evenues: Service revenue Expenses: Cost of goods sold Salary expense Depreciation expense Income tax expense Net income 97,000 57,000 26,000 4,000 184,000 $51,000 Additional data follow: a. Acquisition of plant assets is $118,000. Of this amount, $100,000 is. paid in cash and $18,000 by signing a note payable. b. Cash receipt from sale of land totals $28,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $29,000. d. Payment of note payable is $18,000. e. Payment of dividends is $8,000. f. From the balance sheet: September 30, 2025 2024 S Current Assets: Cash Accounts receivable Inventory Current Liabilities: Accounts payable E08-17 E08-21 P08-24A 30,000 $ 41,000 97,000 8,000 59,000 93,000 3 4 5 17.000 S 30,000 $ POB-25A Select destination and pre ENTER or choose Paste AR Type here to search fx E F G D f. From the balance sheet: September 30, 2025 2024 $ Current Assets: Cash.. Accounts receivable Inventory.. Current Liabilities: Accounts payable Accrued liabilities 30,000 $ 41,000 97,000 8,000 59,000 93,000 $ 30,000 $ 11,000 17,000 24,000 uirements 1. Prepare Minerals Plus's statement of cash flows for the year ended September 30, 2025, using the indirect method. Include a separate section for noncash investing and financing activities. Test Your Knowledge OB-17 Reg. 1 MINERALS PLUS, INC. Statement of Cash Flows Year Ended September 30, 2025 Cash flows from operating activities: Net Income Adjustments to reconcile net income to E08-17 E08-21 P08-24A P08-25A estination and press ENTER or choose Past 51.000 Type here to search O B D E Year Ended September 30, 2025 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Decrease in accounts receivable Increase in inventory Increase in accounts payable Decrease in accrued liabilities Net cash provided by operating activities Cash flows from investing activities: Acquisition of plant assets Cash receipt from sale of land Net cash used for investing activities Cash flows from operating activities: Cash receipt from Issuance of common stock Payment of note payable Payment of dividends Net cash provided by financing activities Net increase in cash Cash balance, September 30, 2024 Cash balance, September 30, 2025 5 5 7 99 90 91 Noncash Investing and financing activities: Acquisition of plant assets by issuing note payable Total noncash investing and financing activities 92 E08-17 E08-21 POB 24A PO8-25A Type here to search
