Ivanhoe Company Comparative Balance Sheets As of December 31, 2025 and 2024 For the Year Ended December 31, 2025 Income taxes payable 5,000 4,040 Sales revenue $1,157,590 2025 2024 Salaries and wages payable 4,990 2,980 Cost of goods sold 742.010 Cash $10,040 $4.030 Gross margin 415.580 Short-term notes payable 10,020 10,020 Accounts receivable 12,910 Interest expense (51,290) (36,990) Short-term investments Inventory Prepaid rent 22.220 42.400 29,960 Long-term notes payable 60.200 70,310 Operating expenses Selling expenses $79.130 Income before taxes 101,790 Bonds payable 401,710 401.710 Administrative expenses 158,050 Prepaid insurance Supplies Premium on bonds payable 16,020 18,135 Depreciation/Amortization expense 39.620 Income tax expense 39,230 990 Common stock 239,400 219,310 Total operating expenses Income from operations 276.800 138,780 Net income 62,560 Buildings 349,320 Accumulated depreciation-buildings Equipment (104,330) (87,530) Paid-in capital in excess of par-common stock 24,910 17,400 Other revenues/expenses Gain on sale of land 7.920 Dividends to common stockholders (28,360) 522.390 396.430 Retained earnings 123.090 88,890 Gain on sale of short-term investment 3.980 Accumulated depreciation-equipment (129,860) (112,170) Patents 44,810 49,940 Total liabilities and stockholders' equity $907,430 $864,845 Dividend revenue 2,400 To retained earnings $34,200 Total assets $907,430 $864,845 Interest expense (51290) (36,990) Reconciliation Schedule Cash receipts: Cash payments: IVANHOE COMPANY Statement of Cash Flows (Direct Method) $ $ Reconciliation of Net Income to $ Adjustments to reconcile net income to $ $