Sage Company had available at the end of 2025 the following information. Accumulated depreciation-equipment Patents Total assets Accounts payable Income taxes payable Salaries and wages payable Short-term notes payable Long-term notes payable Bonds payable Premium on bonds payable Common stock Paid-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity (129,100) (113,110) $904,25045,090$859,75549,800 \begin{tabular}{rrr} $21,840 & $31,700 \\ 4,980 & 3,960 \\ 5,040 & 2,980 \\ 9,930 & 9,930 \\ 59,470 & 69,590 \\ 402,840 & 402,840 \\ 12,910 & & 15,975 \\ 238,670 & & 219,730 \\ 25,070 & & 17,430 \\ 123,500 & & 85,620 \\ \hline$904,250 & $859,755 \\ \hline \end{tabular} Sage Company Income Statement and Dividend Information Sage Company Income Statement and Dividend Information For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Gross margin $1,165,110 740,980 424,130 Operating expenses Selling expenses Administrative expenses Depreciation/Amortization expense Total operating expenses Income from operations Other revenues/expenses Gain on sale of land Gain on sale of short-term investment Dividend revenue Interest expense Income before taxes $79,930 157,160 38,110 8,010 3,960 2,390 (51,450) (37,090) 111,840 Prepare a statement of cash flows for Sage Company using the direct method accompanied by a reconciliation sch short-term investments are debt securities, classified as available-for-sale. (Show amounts in the investing and finan decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) (Direct Method) Cash receipts: $ $ Cash payments: (Show amounts that decrease cash flow with either a-sign e.g. 15,000 or in parenthesis eg. (15,000).) Question 2 of 2 Reconciliation Schedule Reconciliation of Net Income to $ Adjustments to reconcile net income to $ Question 2 of 2