Rouse Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 713,000 342,000 Cost of Goods Sold 371,000 Gross Profit Operating Expenses: Depreciation Expense $ 54,000 210,000 Other Operating Expenses 264,000 Total Operating Expenses $ 107,000 Net Income Print Done Rouse Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets: Cash 17,000 $ 16,000 57,000 46,000 79,000 90,000 Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation-Plant Assets 216,400 260,500 (38,500) 96,000 (32,400) 73,000 Investments $ 471,000 $ 409,000 Total Assets Liabilities Current Liabilities: Accounts Payable $ 72,000 $ 71,000 2nnn 5 nnn Long-term Assets: Plant Assets 260,500 216,400 Accumulated Depreciation-Plant Assets (38,500) (32,400) 73,000 96,000 Investments $ 471,000 $ 409,000 Total Assets Liabilities Current Liabilities: $ 72,000 $ 71,000 Accounts Payable Salaries Payable Long-term Liabilities: 3,000 5,000 61,000 69,000 Notes Payable Total Liabilities 136,000 145,000 Stockholders' Equity Common Stock, no par 45,000 290,000 34,000 230,000 Retained Earnings 335,000 264,000 Total Stockholders' Equity $ 471,000 $ 409,000 Total Liabilities and Stockholders' Equity . Rouse calculated the following amounts for 2024: Acquisition value of plant assets, $92,000. Payment of dividends, $47,000. Payment of long-term notes payable, $8,000. Cash receipt from issuance of common stock, $11,000. Rouse Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $47,900. No cash was received upon disposal. Rouse 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: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance. December 31. 2024