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Condensed financial data of Blossom Company for 2025 and 2024 are presented below. Blossom Company Comparative Balance Sheet As of December 31, 2025 and 2024
Condensed financial data of Blossom Company for 2025 and 2024 are presented below. Blossom Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 Cash $1,790 $1,170 Receivables 1,780 1310 Inventory 1,580 1,900 Plant assets 1,900 1,720 Accumulated depreciation (1,180) (1,140) Long-term investments (held-to-maturity) 1,310 1,420 $7.180 $6,380 Accounts payable $1,220 $880 Accrued liabilities 210 240 Bonds payable 1,380 1,550 Common stock 1,930 1,660 Retained earnings 2,440 2,050 $7.180 $6,380 Blossom Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,690 Cost of goods sold 4,650 Gross margin 2,040 Selling and administrative expense 230 Income from operations 1,110 Other revenues and gains Gain on sale of investments 90 Income before tax 1,200 Income tax expense 550 Net income 650 Cash dividends 260 Income retained in business $390 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2025. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) BLOSSOM COMPANY STATEMENT OF CASH FLOWS For the Year Ended December 31, 2025 Indirect Method) Cash Flows from Operating Activities Payment of Cash Dividends to djustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Gain on Sale of Investments Increase in Accounts Receivable Decrease in Inventory Increase in Accounts Payable Decrease in Accrued Liabilities 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 Issuance of Capital Stock Redemption of Bonds Payable Payment of Cash Dividends Net Cash Provided by Financing Activities + Net Increase in Cash Cash, December 31, 2025 Cash, December 31, 2025 Noncash Investing and Financing Activities Issuance of Common Stock for Plant Assets +
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