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Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below. Accounts payable $1,200$920 Accrued liabilities Bonds payable Common stock Retained earnings Bridgeport
Condensed financial data of Bridgeport Company for 2025 and 2024 are presented below. Accounts payable $1,200$920 Accrued liabilities Bonds payable Common stock Retained earnings Bridgeport Company Income Statement For the Year Ended December 31, 2025 \begin{tabular}{lr} Sales revenue & $6,970 \\ Cost of goods sold & 4,780 \\ \cline { 2 - 2 } Gross margin & 2,190 \\ Selling and administrative expense & 930 \\ \cline { 2 - 2 } Income from operations & 1,260 \end{tabular} Other revenues and gains Gain on sale of investments Income before tax 1,33070 Income tax expense Net income 780550 Cash dividends Income retained in business 260$520 Additional information: During the year, $80 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 direct method. (Do not prepare a reconciliation schedule.) (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000). BRIDGEPORT COMPANY STATEMENT OF CASH FLOWS For the Year Ended December 31, 2025 (Direct Method) Cash Flows from Operating Activities Cash Paid to Suppliers $ 6790 Cash Paid to Suppliers $ Cash Paid for Income Taxes Cash Paid for Selling/Administrative Expenses Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Used by Investing 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
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