Question
Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below. Bridgeport Company Comparative Balance Sheet As of December 31, 2025 and
Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below. Bridgeport Company Comparative Balance Sheet As of December 31, 2025 and 2024 2025 2024 Cash $1,770 $1,160 Receivables Inventory 1,740 1,280 1,620 1880 Plant assets 1.930 1.670 Accumulated depreciation (1.250) (1.190) Long-term investments (held-to-maturity) 1,290 1,420 $7.100 $6,220 Accounts payable $1,220 $920 Accrued abilities 190 240 Bonds payable 1,370 1.570 Common stock 1.930 1.730 Retained earnings 2,390 1,760 $7,100 $6,220 Bridgeport Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,860 Cost of goods sold 4,600 Gross margin 2,260 Selling and administrative expense 930 Income from operations 1,330 Other revenues and gains Gain on sale of investments 80 Income before tax 1410 Income tax expense 520 Net income 890 Cash dividends 260 Income retained in business $630 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 eg-15,000 or in parenthesis eg. (15,000)) BRIDGEPORT 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 v SUPPORT eTextbook and Media Sve for Later Attempts: 1 of 10 used Submit Answer
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