Data tableRequirement $1.$ Prepare the $2024$ statement of cash flows, formatting operating activities by the indirect method. $($Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.$)$ Complete the statement one section at a time, beginning with the cash flows from operating activities.Requirements $1.$ Prepare the $2024$ statement of cash flows, formatting operating activities by the indirect method. $2.$ How will what you learned in this problem help you evaluate an investment? McKnight, Inc.

Comparative Balance Sheet

December $31,2024$ and $2023$

$2024$

$2023$

Assets

Current Assets:

Cash

$$26,000$

$$15,100$

Accounts Receivable

$26,600$

$25,000$

Merchandise Inventory

$79,300$

$91,000$

Long$-$term Assets:

Land

$35,500$

$10,000$

Plant Assets

$120,700$

$110,520$

Accumulated Depreciation$$Plant Assets

$(18,800)$

$(16,820)$

Total Assets

$$269,300$

$$234,800$

Liabilities

Current Liabilities:

Accounts Payable

$$35,000$

$$30,100$

Accrued Liabilities

$27,900$

$30,600$

Long$-$term Liabilities:

Notes Payable

$77,000$

$107,000$

Total Liabilities

$139,900$

$167,700$

Stockholders' Equity

Common Stock, no par

$89,000$

$64,700$

Retained Earnings

$40,400$

$2,400$

Total Stockholders' Equity

$129,400$

$67,100$

Total Liabilities and Stockholders' Equity

$$269,300$

$$234,800.$ Cash Flows from Investing Activities:

Cash Payment for Acquisition of Plant Assets

$(22,800)$

Net Cash Provided by $($Used for$)$ Investing Activities

Cash Flows from Financing Activities:

Cash Payment of Dividends

Cash Payment of Notes Payable

Cash Receipt from Issuance of Common Stock

Net Cash Provided by $($Used for$)$ Financing Activities

Net Increase $($Decrease$)$ in Cash

Cash Balance, December $31,2023$

Cash Balance, December $31,2024$

Non$-$cash Investing and Financing Activities:

Acquisition of Land by Issuing Long$-$term Notes Payable

Thtal Nnn$-$rach Investinn and Financinn Artivities

The $2024$ income statement and comparative balance sheet of McKnight, Inc. follow:

$($Click the icon to view the income statement.$)$

$($Click the icon to view the comparative balance sheet.$)$

$(22,800)$ Operating Expenses: