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Please create a Statement of Cash Flows! The income statement, balance sheets, and additional information for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED
Please create a Statement of Cash Flows!
The income statement, balance sheets, and additional information for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Balance Sheets December 31,2025 and 2024 Assets Current assets: Cash Accounts receivable (I) Inventory (I) other current assets (D) Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets \begin{tabular}{rrrr} 620,000 & 0 & 620,000 & (I) \\ 836,000 & 0 & 836,000 & (I) \\ 74,360 & 46,090 & 28,360 & (I) \\ (26,450) & (8,300) & 18,150 & (I) \\ \hline$1,788,194 & 5107,300 & & \end{tabular} Liabilities and Stockholders' Equity Current liabilities: Accounts payable (I) Interest payoble Income tax payable other current liabilities Notes payable (current and long-term) Stockholders' equity: Common stock Paid-in capital Retained carnings Treasury stock Total 'iabilities and stockholders' equity Additional information for 2025 : 1. Land of $620,000 was obtained by issuing a note payable to the seller. 2. Buildings of $836,000 and equipment of $28,360 were purchased using cash. 3. Monthly payments during the year reduced notes payable by $7,585. 4. Issued common stock for $1,120,000. 5. Purchased 11,200 shares of treasury stock for $21 per share. 6. Sold 5,200 shares of treasury stock at $22 per share. 7. Deciared and paid a cash dividend of $12,840. Required: Prepare the statement of cash flows for the year ended December 31, 2025, using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.) Step by Step Solution
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