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\begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{c} All Wired, Inc. \\ Income Statement \\ Year Ended December 31, 2024 \end{tabular}} \\ \hline Net Sales Revenue & & & $ & 441,000 \\ \hline Cost of Goods Sold & & & & 201,200 \\ \hline Gross Profit & & & & 239,800 \\ \hline \multicolumn{5}{|l|}{ Operating Expenses: } \\ \hline Salaries Expense & $ & 78,400 & & \\ \hline Depreciation Expense-Plant Assets & & 14,200 & & \\ \hline Other Operating Expenses & & 10,600 & & \\ \hline Total Operating Expenses & & & & 103,200 \\ \hline Operating Income & & & & 136,600 \\ \hline \multicolumn{5}{|l|}{ Other Income and (Expenses): } \\ \hline Interest Revenue & & 9,000 & & \\ \hline Interest Expense & & (21,400) & & \\ \hline Total Other Income and (Expenses) & & & & (12,400) \\ \hline Net Income Before Income Taxes & & & & 124,200 \\ \hline Income Tax Expense & & & & 19,500 \\ \hline Net Income & & & $ & 104,700 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{\begin{tabular}{l} All Wired, Inc. \\ Comparative Balance Sheet \\ December 31, 2024 and 2023 \end{tabular}} \\ \hline & & 2024 & 2023 \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline \multicolumn{4}{|l|}{ Current Assets: } \\ \hline Cash & $ & 26,500$ & 15,500 \\ \hline Accounts Receivable & & 26,800 & 25,100 \\ \hline Merchandise Inventory & & 79,700 & 91,400 \\ \hline \multicolumn{4}{|l|}{ Long-term Assets: } \\ \hline Land & & 35,300 & 10,000 \\ \hline Plant Assets & & 123,210 & 113,310 \\ \hline Accumulated Depreciation-Plant Assets & & (19,310) & (15,610) \\ \hline Total Assets & 1 & 272,2001$ & 239,700 \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline \multicolumn{4}{|l|}{ Current Liabilities: } \\ \hline Accounts Payable & $ & 35,500$ & 30,200 \\ \hline Accrued Liabilities & & 28,200 & 30,200 \\ \hline \multicolumn{4}{|l|}{ Long-term Liabilities: } \\ \hline Notes Payable & & 75,000 & 107,000 \\ \hline Total Liabilities & & 138,700 & 167,400 \\ \hline \multicolumn{4}{|c|}{ Stockholders' Equity } \\ \hline Common Stock, no par & & 88,300 & 64,000 \\ \hline Retained Earnings & & 45,200 & 8,300 \\ \hline Total Stockholders' Equity & & 133,500 & 72,300 \\ \hline Total Liabilities and Stockholders' Eq & $ & 272,200$ & 239,700 \\ \hline \end{tabular} Requirement 1. Prepare the 2024 Statement of Cash Flows by the direct 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. All Wired, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Receipts: \begin{tabular}{|l|l|} \hline & \\ \hline Collections From Customers \\ \hline Interest Received \\ \hline Total Cash Receipts \end{tabular} Payments: \begin{tabular}{|c|c|} \hline To Suppliers \\ \hline To Employees \\ \hline For Interest & \\ \hline For Income Tax & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Total Cash Payments Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: \begin{tabular}{l} Cash Flows from Financing Activities: \\ \hline Cash Payment of Dividends \\ Cash Payment of Notes Payable \\ Net Cash Provided by (Used for) Financing Activities \\ Net Increase (Decrease) in Cash \\ Cash Balance, December 31, 2023 \\ Cash Balance, December 31, 2024 \end{tabular} Non-cash Investing and Financing Activities: Acquisition of Land by Issuing Long-term Notes Payable Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? A. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay its debts and dividends B. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments C. Both A and B D. None of the above \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{c} All Wired, Inc. \\ Income Statement \\ Year Ended December 31, 2024 \end{tabular}} \\ \hline Net Sales Revenue & & & $ & 441,000 \\ \hline Cost of Goods Sold & & & & 201,200 \\ \hline Gross Profit & & & & 239,800 \\ \hline \multicolumn{5}{|l|}{ Operating Expenses: } \\ \hline Salaries Expense & $ & 78,400 & & \\ \hline Depreciation Expense-Plant Assets & & 14,200 & & \\ \hline Other Operating Expenses & & 10,600 & & \\ \hline Total Operating Expenses & & & & 103,200 \\ \hline Operating Income & & & & 136,600 \\ \hline \multicolumn{5}{|l|}{ Other Income and (Expenses): } \\ \hline Interest Revenue & & 9,000 & & \\ \hline Interest Expense & & (21,400) & & \\ \hline Total Other Income and (Expenses) & & & & (12,400) \\ \hline Net Income Before Income Taxes & & & & 124,200 \\ \hline Income Tax Expense & & & & 19,500 \\ \hline Net Income & & & $ & 104,700 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{\begin{tabular}{l} All Wired, Inc. \\ Comparative Balance Sheet \\ December 31, 2024 and 2023 \end{tabular}} \\ \hline & & 2024 & 2023 \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline \multicolumn{4}{|l|}{ Current Assets: } \\ \hline Cash & $ & 26,500$ & 15,500 \\ \hline Accounts Receivable & & 26,800 & 25,100 \\ \hline Merchandise Inventory & & 79,700 & 91,400 \\ \hline \multicolumn{4}{|l|}{ Long-term Assets: } \\ \hline Land & & 35,300 & 10,000 \\ \hline Plant Assets & & 123,210 & 113,310 \\ \hline Accumulated Depreciation-Plant Assets & & (19,310) & (15,610) \\ \hline Total Assets & 1 & 272,2001$ & 239,700 \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline \multicolumn{4}{|l|}{ Current Liabilities: } \\ \hline Accounts Payable & $ & 35,500$ & 30,200 \\ \hline Accrued Liabilities & & 28,200 & 30,200 \\ \hline \multicolumn{4}{|l|}{ Long-term Liabilities: } \\ \hline Notes Payable & & 75,000 & 107,000 \\ \hline Total Liabilities & & 138,700 & 167,400 \\ \hline \multicolumn{4}{|c|}{ Stockholders' Equity } \\ \hline Common Stock, no par & & 88,300 & 64,000 \\ \hline Retained Earnings & & 45,200 & 8,300 \\ \hline Total Stockholders' Equity & & 133,500 & 72,300 \\ \hline Total Liabilities and Stockholders' Eq & $ & 272,200$ & 239,700 \\ \hline \end{tabular} Requirement 1. Prepare the 2024 Statement of Cash Flows by the direct 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. All Wired, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Receipts: \begin{tabular}{|l|l|} \hline & \\ \hline Collections From Customers \\ \hline Interest Received \\ \hline Total Cash Receipts \end{tabular} Payments: \begin{tabular}{|c|c|} \hline To Suppliers \\ \hline To Employees \\ \hline For Interest & \\ \hline For Income Tax & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Total Cash Payments Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: \begin{tabular}{l} Cash Flows from Financing Activities: \\ \hline Cash Payment of Dividends \\ Cash Payment of Notes Payable \\ Net Cash Provided by (Used for) Financing Activities \\ Net Increase (Decrease) in Cash \\ Cash Balance, December 31, 2023 \\ Cash Balance, December 31, 2024 \end{tabular} Non-cash Investing and Financing Activities: Acquisition of Land by Issuing Long-term Notes Payable Total Non-cash Investing and Financing Activities Requirement 2. How will what you learned in this problem help you evaluate an investment? A. Learn how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay its debts and dividends B. Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments C. Both A and B D. None of the above