Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cash Receivables Inventory Marin Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 $1,810 $1,120 1,790 1,330 1,570 1,940 Plant
Cash Receivables Inventory Marin Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 $1,810 $1,120 1,790 1,330 1,570 1,940 Plant assets 1,870 1,740 Accumulated depreciation (1,230) (1,150) Long-term investments (held-to-maturity) 1,300 1,440 $7,110 $6,420 Accounts payable $1,220 $910 Accrued liabilities 200 260 Bonds payable 1,370 1,550 Common stock 1,860 1,740 Retained earnings 2,460 1,960 $7,110 $6,420 Marin Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,810 Cost of goods sold 4,680 Gross margin 2,130 Selling and administrative expense 920 Income from operations 1,210 Other revenues and gains Gain on sale of investments 80 Income before tax 1,290 Income tax expense 530 Net income 760 Cash dividends 260 Income retained in business $500 MARIN COMPANY STATEMENT OF CASH FLOWS For the Year Ended December 31, 2025 (Indirect Method) Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Gain on Sale of Investments 80 80 -80 00 Increase in Accounts Receivable -460 Decrease in Inventory 370 310 Increase in Accounts Payable 760 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Plant Assets Sale of Investments Net Cash Provided by Investing Activities Cash Flows from Financing Activities Redemption of Bonds Payable Issuance of Capital Stock Payment of Cash Dividends Net Cash Used by Financing Activities -130 -80 -180 -260 160 920 Cash Flows from Financing Activities Redemption of Bonds Payable Issuance of Capital Stock Payment of Cash Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash, January 1, 2025 Cash, December 31, 2025 Noncash Investing and Financing Activities Issuance of Common Stock for Plant Assets Toythook and Modia -180 -260 I
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started