Masterson Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) (Click the icon to view additional information.) Prepare the company's statement of cash flows-indirect method-for the year ended December 31, 2024. Assume investments are purchased with cash. (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. Masterson Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Data table Masterson Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 - Part 1 of 4 al statements for 2024: Data table 2024 2023 Points: 0 of 15 Prepare the company's statement of c December 31, 2024. Assume investm parentheses for amounts that result in Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Masterson Exercise Equipment, Inc. Income Statement 18,000 $ 14,000 Year Ended December 31, 2024 51,000 49,000 Net Sales Revenue $ 715,000 81,000 93,000 348,000 Cost of Goods Sold Long-term Assets: Gross Profit 367,000 Plant Assets 274,100 224,400 Operating Expenses: Accumulated Depreciation-Plant Assets (45,100) (36,400) Depreciation Expense 51,000 90,000 79,000 185,000 Investments 469,000 $ 423,000 Total Assets Other Operating Expenses Total Operating Expenses 236,000 Liabilities $ 131,000 Net Income Current Liabilities: Accounts Payable Salaries Payable Print Done 77,000 $ 74,000 2,500 6,500 Print Done - More info Masterson calculated the following amounts for 2024: Acquisition value of plant assets, $92,000. Payment of dividends, $93,000. Payment of long-term notes payable, $4,000. Cash receipt from issuance of common stock, $13,000. Masterson Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. 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.) (Click the icon to view the additional information.) Read the requirements. Requirement 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. McKnight, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Data table McKnight, Inc. Comparative Balance Sheet - Data table McKnight, Inc. Income Statement Year Ended December 31, 2024 December 31, 2024 and 2023 Net Sales Revenue 2024 2023 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Cost of Goods Sold Gross Profit $ 435,000 203,200 231,800 26,000 $ 15,900 Operating Expenses: 26,900 25,600 Salaries Expense 76,400 79,300 91,700 Depreciation Expense-Plant Assets 14,200 10,600 Long-term Assets: Other Operating Expenses Land 35,400 13,000 101,200 Total Operating Expenses Plant Assets 111,520 110,220 Operating Income 130,600 (14,620) (14,520) Accumulated Depreciation-Plant Assets Other Income and (Expenses): 264,500 $ 241,900 Interest Revenue 8,600 Total Assets Liabilities Interest Expense (21,800) Current Liabilities: Accounts Payable Accrued Liabilities Total Other Income and (Expenses) (13,200) 35,600 $ 30,100 Net Income Before Income Taxes 117,400 28,500 30,500 19,300 Income Tax Evrense - Mer GrandIOG INTYGIRLory Long-term Assets: Land Plant Assets Accumulated Depreciation-Plant Assets 10,000 Year Ended December 31, 2024 Net Sales Revenue $ 435,000 35,400 13,000 203,200 111,520 110,220 Cost of Goods Sold (14,620) (14,520) Gross Profit 231,800 $ 264,500 $ 241,900 Operating Expenses: Total Assets Salaries Expense 76,400 Liabilities Depreciation Expense-Plant Assets 14,200 Current Liabilities: Accounts Payable 10,600 Other Operating Expenses Accrued Liabilities Long-term Liabilities: Notes Payable 35,600 $ 28,500 30,100 30,500 101,200 Total Operating Expenses Operating Income 130,600 72,000 105,000 Other Income and (Expenses): Interest Revenue 8,600 Total Liabilities 136,100 165,600 (21,800) Stockholders' Equity Interest Expense Common Stock, no par 88,700 64,300 Total Other Income and (Expenses) (13,200) 39,700 12,000 Net Income Before Income Taxes 117,400 Retained Earnings 128,400 76,300 Income Tax Expense Total Stockholders' Equity 19,300 $ 98,100 264,500 $ 241,900 Net Income Total Liabilities and Stockholders' Equity ement ar view the view the are the 2 statemer ent More info Additionally, McKnight purchased land of $22,400 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 $14,100. The plant acquisition was for cash. Print Done pe 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? ec d f Print Done - Sutton Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) Read the requirements. (Click the icon to view the comparative balance sheet.) ... Requirement 1. Compute the amount of Sutton Exercise's acquisition of plant assets. Sutton Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $40,500. No cash was received upon disposal. The acquisitions of plant assets amounts to Data table Sutton Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 - Data table Sutton Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 2024 2023 Net Sales Revenue $ 709,000 Assets 340,000 Cost of Goods Sold Current Assets: Gross Profit 369,000 Cash 22,000 $ 15,000 Operating Expenses: Accounts Receivable 52,000 47,000 Depreciation Expense Merchandise Inventory 85,000 89,000 Other Operating Expenses 52,000 215,000 Long-term Assets: 267,000 Total Operating Expenses Plant Assets 274,900 222,400 $ 102,000 Accumulated Depreciation-Plant Assets (48,900) (37,400) Net Income 92,000 71,000 Investments $ 477,000 $ 407,000 Total Assets Print Done Liabilities Current Liabilities: Accounts Payable Salaries Payable Print Done 82,000 $ 80,000 4,000 7,000 - Data table Accounts Receivable Merchandise Inventory 52,000 47,000 85,000 89,000 Long-term Assets: Plant Assets 274,900 222,400 Accumulated Depreciation-Plant Assets (48,900) (37,400) 92,000 71,000 Investments $ 477,000 $ 407,000 Total Assets Liabilities Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable $ 82,000 $ 80,000 4,000 7,000 58,000 67,000 Total Liabilities 144,000 154,000 Stockholders' Equity Common Stock, no par 49,000 33,000 284,000 220,000 Retained Earnings 333,000 253,000 Total Stockholders' Equity Print Done 1. Compute the amount of Sutton Exercise's acquisition of plant assets. Assume the acquisition was for cash. Sutton Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $40,500. No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Sutton Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Sutton Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends