Current Attempt in Progress Cheyenne Mining Co. has recently decided to go public and has hired you as an independent CPA One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. COMPARATIVE BALANCE SHEETS 12/31/25 12/31/24 Cash $107000 $193000 Accounts receivable 362000 214000 Inventory 382000 482000 Property, plant, and equipment $609000 $960000 Less accumulated depreciation (321000) 288000 (306000) 654000 $1439000 $1543000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $176000 $97000 351000 394000 359000 602000 215000 215000 338000 235000 $1439000 $1543000 INCOME STATEMENT For the Year Ended December 31, 2025 Sales revenue $8410000 Cost of sales 7153000 Gross profit 1257000 Selling expenses $599000 Administrative expenses 194000 793000 Income from operations 464000 Interest expense 72000 Income before taxes 392000 96000 Income taxes Net income $296000 The following additional data were provided: 1. Dividends for the year 2025 were $193000. 2. During the year, equipment was sold for $210000. This equipment cost $350000 originally and had a book value of $288000 at the time of sale. The loss on sale was incorrectly charged to cost of sales. 3. All depreciation expense is in the selling expense category. Under the direct method, the cash received from customers is $8410000 $8262000. $8453000. O $8550000.