Data table - Data table Albuquerque Group, Inc. Income Statement Year Ended December 31, 2024 Albuquerque Group, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Net Sales Revenue Assets Cost of Goods Sold $ 439,000 205,500 233,500 Current Assets: Cash Accounts Receivable Merchandise Inventory Gross Profit $ 12,200 $ 15,100 Operating Expenses: 41,900 43,400 Salaries Expense 76,400 97,000 93,800 Depreciation Expense-Plant Assets 15,900 Long-term Assets: Other Operating Expenses 49,700 Land Plant Assets 35,300 10,000 142,000 Total Operating Expenses 121,520 113,520 Operating Income 91,500 Accumulated Depreciation-Plant Assets (20,820) (19,420) Other Income and (Expenses): $ 287,100 $ 256,400 Total Assets Liabilities Current Liabilities: Accounts Payable Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 54,000 66,000 102,700 114,900 Stockholders' Equity Common Stock, no par 130,000 121,500 54,400 20,000 Retained Earnings 184,400 141,500 Total Stockholders' Equity $ 287,100 $ 256,400 Total Liabilities and Stockholders' Equity 11,800 (24,200) Total Other Income and (Expenses) (12,400) $ 24,500 $ 24,200 26,100 22,800 Net Income Before Income Taxes 79,100 16,300 Income Tax Expense $ Net Income 62,800 Interest Revenue Interest Expense Print Done Print Done - X The 2024 comparative balance sheet and income statement of Albuquerque Group, Inc. follow. Albuquerque disposed of a plant asset at book value during 2024. (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) Prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $14,500. There were no sales of land, no retirement of common stock, and no treasury stock transactions. Assume plant asset and land acquisitions were for cash. Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed.) Albuquerque Group, Inc. Spreadsheet for Statement of Cash Flows Year Ended December 31, 2024 Balance Transaction Analysis Panel A-Balance Sheet: 12/31/2023 DEBIT CREDIT Balance 12/31/2024 Cash $ 15,100 $ 12,200 Accounts Receivable 43,400 41,900 Merchandise Inventory Land Plant Assets 93,800 97,000 10,000 35,300 113,520 121,520 Accumulated Depreciation-Plant Assets (19,420) (20,820) $ 256,400 $ 287,100 Total Assets Accounts Payable Accrued Liabilities Notes Payable Total Liabilities Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: Adjustments to Reconcile Net Income 26,100 22,800 66,000 114,900 24,500 24,200 54,000 102,700 121,500 130,000 20,000 54,400 $ 256,400 $ 287,100 (a) The 2024 comparative balance sheet and income statement of Albuquerque Group, Inc. follow. Albuquerque disposed of a plant asset at book value during 2024. (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement) Prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $14,500. There were no sales of land, no retirement of common stock, and no treasury stock transactions. Assume plant asset and land acquisitions were for cash. Retained Earnings Total Liabilities and Stockholders' Equity Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: $ 256,400 (a) (b) (c) (d) (e) (f) Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Net Cash Used for Investing Activities Cash Flows from Financing Activities: Net Cash Used for Financing Activities Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Total (h) (i) (i) (K) (1) (m) (g) (g) S 287,100