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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 sign or
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 sign or parentheses 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.) Traynor 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.) Data Table - X Data Table More Info Traynor Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Complete the statement one section at a time, beginning with the cash flows from og Traynor 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: Assets Traynor calculated the following amounts for 2024: Acquisition value of plant assets, S97,000. . Payment of dividends, $80,000 Payment of long-term notes payable, $10,000 . Cash receipt from issuance of common stock, $3.000. Traynor Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $49,200. No cash was received upon disposal. Current Assets: Cash Accounts Receivable $ s 17,000 19.000 S 50.000 82,000 48,000 Traynor Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 716,000 Cost of Goods Sold 343.000 Gross Profit 373,000 Operating Expenses Depreciation Expense S 51,000 Other Operating Expenses 195,000 248.000 Total Operating Expenses $ 127,000 Net Income 92,000 Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation-Plant Assets 284 200 216,400 Print Done (35,200) 100.000 (33,400) 79,000 Investments Total Assets 480,000 $ 419.000 Liabilities Net Cash Provided by (Used for) Operating Activities ( Print Print Done 75,000 $ 4,000 74.000 7.000 Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities Notes Payable Total Liabilities 58,000 68,000 137.000 149.000 Stockholders' Equity Common Stock, no par 44,000 299,000 38,000 232,000 Retained Earings
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