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Pronghorn Inc. Comparative Balance Sheets December 31 2025 2024 Assets Cash $258,560 $154,890 Accounts receivable 280,960 121,600 Inventory 360,000 329,120 Prepaid expenses 90,880 83,200
Pronghorn Inc. Comparative Balance Sheets December 31 2025 2024 Assets Cash $258,560 $154,890 Accounts receivable 280,960 121,600 Inventory 360,000 329,120 Prepaid expenses 90,880 83,200 Long-term investments 441,600 348,800 Plant assets 912,000 776,000 Accumulated depreciation [160,000) (166,400) Total $2,184,000 $1,647,200 Liabilities and Stockholders' Equity Accounts payable $326,400 $215,360 Accrued expenses payable 52,800 67,200 Bonds payable 352,000 467,200 Common stock 704,000 560,000 Retained earnings 748,800 337,440 Total $2,184,000 $1,647,200 Pronghorn Inc. Income Statement Data For the Year Ended December 31, 2025 Sales revenue Less: Cost of goods sold $1,243,072 $433,472 Operating expenses, excluding depreciation 39,712 Depreciation expense 148,900 Income tax expense 87,296 Interest expense 15,136 Loss on disposal of plant assets 24,000 748,416 Net income $494,656 Additional information: 1. New plant assets costing $320,000 were purchased for cash during the year. Old plant assets having an original cost of $184,000 and accumulated depreciation of $155,200 were sold for $4,800 cash. 2. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $83,296 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesise.g. (15,000) SUPPORT
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