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Please help me answer these question Presented here are the financial statements of Sandhill Company. Liabilities and Stockholders' Equity Accounts payable $45,600$36,000 Income taxes payable
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Presented here are the financial statements of Sandhill Company. Liabilities and Stockholders' Equity Accounts payable $45,600$36,000 Income taxes payable Bonds payable Common stock 16,80040,80043,20019,20079,20033,600 Retained earnings Total Sandhill Company Income Statement For the Year Ended December 31, 2025 Sales revenue $580,800 Cost of goods sold 420,000 Ihcome statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Gross profit $580,800420,000160,800 Selling expenses $43,200 Administrative expenses 14,40057,600 Income from operations 103,200 Interest expense Income before income taxes 96,0007,200 Income tax expense 19,200 Net income $76,800 Additional data: 1. Depreciation expense was $42,000. 2. Dividends declared and paid were $48,000. 3. During the year, equipment was sold for $20,400 cash. This equipment originally cost $43,200 and had accumulated depreciation of $22,800 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. - 15 ,000 or in parenthesis e.g. (15,000).) Activate Window Go to Settings to activa v vStep by Step Solution
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