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i Data Table - Granite Rock, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 437,000 202,200 Cost of Goods Sold Gross Profit 234,800 Operating Expenses: Salaries Expense 75,400 Depreciation ExpensePlant Assets 14,900 Other Operating Expenses 10,900 Total Operating Expenses 101,200 Operating Income 133,600 Other Income and (Expenses): Print Done 133,600 Operating Income Other Income and (Expenses): Interest Revenue 8,500 (21,200) Interest Expense Total Other Income and (Expenses) (12,700) Net Income Before Income Taxes 120,900 Income Tax Expense 19,600 Net Income $ 101,300 Data Table Granite Rock, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets: Cash 26,400 $ 15,800 Accounts Receivable 26,300 25,700 Merchandise Inventory 79,600 91,100 Long-term Assets: Land 35,500 15,000 Plant Assets 105,150 122,620 (17,720) Accumulated DepreciationPlant Assets (15,450) Total Assets Liabilities Current Liabilities: 35,500 $ 29,900 Accounts Payable Accrued Liabilities Long-term Liabilities: 28,300 30,800 Notes Payable 73,000 103,000 Total Liabilities 136,800 163,700 Stockholders' Equity Common Stock, no par 88,700 47,200 64,100 9,500 Retained Earnings Total Stockholders' Equity 135,900 73,600 $ 272,700 $ 237,300 Total Liabilities and Stockholders' Equity i More Info X Additionally, Granite Rock purchased land of $20,500 by financing it 100% with long-term notes payable during 2024. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $12,630. The plant acquisition was for cash. Print Done 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 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. Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Receipts: Collections From Customers 436400 Interest Received 8500 Total Cash Receipts 444900 For Interest (21200) (298600) 146300 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 Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Payment of Notes Payable Cash Receipt From Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash 10600 15800 Cash Balance, December 31, 2023 26400 Cash Balance, December 31, 2024 15800 Cash Balance, December 31, 2023 26400 Cash Balance, December 31, 2024 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? O 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