Question 18 of 18 < Presented here are the financial statements of Wildhorse Company. Wildhorse Company Comparative Balance Sheets December 31 Assets 2025 2024 Cash $24,500 $ 14,000 Accounts receivable 14,000 9,800 Inventory 19,600 14,000 Property, plant, and equipment 42,000 54,600 Accumulated depreciation (22,400) (16,800) Total $77,700 $75,600 Liabilities and Stockholders' Equity Accounts payable $ 13,300 $10,500 Income taxes payable 4,900 5,600 Bonds payable 11,900 23,100 Common stock 12,600 9,800 Retained earnings 35,000 26,600 Total $77,700 $75,600 3.62/25 Question 18 of 18 Wildhorse Company Income Statement For the Year Ended December 31, 2025 Sales revenue $169,400 Cost of goods sold 122,500 Gross profit 46.900 Selling expenses $12.600 Administrative expenses 4,200 16,800 Income from operations 30,100 Interest expense 2,100 Income before income taxes 28.000 Income tax expense 5,600 Net income $22,400 Additional data: 1. Depreciation expense was $12,250. 2. Dividends declared and paid were $14,000. 3. 4. 3.62/25 E 13 During the year, equipment was sold for $5,950 cash. This equipment originally cost $12,600 and had accumulated depreciation of $6,650 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at nar.for.cash Question 18 of 18 Additional data: 1. Depreciation expense was $12,250. 2. Dividends declared and paid were $14,000. 3. 3.62/25 E !!! During the year, equipment was sold for $5,950 cash. This equipment originally cost $12.600 and had accumulated depreciation of $6,650 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. D Question 18 of 18 < WILDHORSE COMPANY Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities v Depreciation Expense Sale of Land Redemotion of Bonds 5400 1000 30200 Decrease in Accounts Receivable 1800 Decrease in Accounts Payable -19550 Cash Flows from Operatine Activities Cash Flows from Investing Activities Purchase of Land 4200 3.62/25 23800 13 -17750 12450 Question 18 of 18 < > Calows from investing Activities Purchase of Land Cash Flows from Investine Activities Cash Flows from Financing Activities Payment of Dividends Pavment of Dividends Issuance of Common Stock Cash Flows from Financing Activities Cash Flows from Operatine Activities Cash at Beginning of Period Cash at End of Period > 4200 -19900 7000 3.62/25 4200 -12900 3750 11100 14850 !!!