Save Score: 0 of 6 pts 5 of 7 (6 complete) HW Score: 70.4%, 23.94 of 34 pts Question Help EF 16-24 (similar to) 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) 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 minus sign or parentheses for 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) Complete the statement one section at a time, beginning with the cash flows from operating activities 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 head for Oneration Act Score: 0 of 6 pts 5 of 7 (6 complete) HW Score: 70.4%, 23.94 of 34 pt Question Help - X - Data Table EF16-24 (similar to) Traynor Exercise Equipment, Inc. reported 2024 Click the icon to view the income state (Click the icon to view the comparative (Click the icon to view additional inform sh flows indirect method for the year Vestments are purchased with cash. (Use a that result in a decrease in cash. If a box box empty, do not select a label or enter a Traynor Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ Tea Cu 715,000 348,000 Cost of Goods Sold Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income Provided by (Used for) Operating Act Gross Profit 367.000 $ Operating Expenses Depreciation Expense Other Operating Expenses Total Operating Expenses 52.000 185,000 237.000 130,000 $ Net Income 5 of 7 (6 complete) al st i Data Table - indirec Use a m ement, le Traynor Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets Cash $ 17,000 18,000 $ 56,000 52.000 86.000 91,000 Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation-Plant Assets Investments 267,800 218,400 (40,800) 97.000 (33,400) 75,000 Sand Print Done Data Table - X |U en Total Assets Liabilities Current Liabilities: $ 79,000 $ 76,000 Accounts Payable Salaries Payable Long-term Liabilities: 2,000 5,500 Notes Payable 57,000 65,000 Total Liabilities 138,000 146,500 Stockholders' Equity Common Stock, no par 44.000 302,000 38,000 235,500 Retained Earnings Total Stockholders' Equity 346.000 273,500 $ 484,000 $ 420,000 Total Liabilities and Stockholders' Equity and Print Done decrease in cash. If a box is not used in the stat A More Info - X . . . Traynor calculated the following amounts for 2024: Acquisition value of plant assets, $94,000. Payment of dividends, $63,500. Payment of long-term notes payable, $8,000. Cash receipt from issuance of common stock, $6,000. Traynor Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $44,600. No cash was received upon disposal. . Print Done nen click Check