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Shamrock Company Income Statement For the Year Ended December 31, 2025 begin{tabular}{|c|c|c|} hline Sales revenue & & $484,000 hline Cost of goods sold &
Shamrock Company Income Statement For the Year Ended December 31, 2025 \begin{tabular}{|c|c|c|} \hline Sales revenue & & $484,000 \\ \hline Cost of goods sold & & 350,000 \\ \hline Gross profit & & 134,000 \\ \hline Selling expenses & $36,000 & \\ \hline Administrative expenses & 12,000 & 48,000 \\ \hline Income from operations & & 86,000 \\ \hline Interest expense & & 6,000 \\ \hline Income before income taxes & & 80,000 \\ \hline Income tax expense & & 16,000 \\ \hline Net income & & $64,000 \\ \hline \end{tabular} \begin{tabular}{lrr} \multicolumn{1}{l}{ Liabilities and Stockholders' Equity } & & \\ \cline { 1 - 1 } Accounts payable & $38,000 & $30,000 \\ Income taxes payable & 34,000 & 16,000 \\ Bonds payable & 36,000 & 66,000 \\ Common stock & 100,000 & 76,000 \\ Retained earnings & $222,000 & $216,000 \\ \hline Total & & \end{tabular} Presented here are the financial statements of Shamrock Company. Additional data: 1. Depreciation expense was $35,000. 2. Dividends declared and paid were $40,000. 3. During the year, equipment was sold for $17,000 cash. This equipment originally cost $36,000 and had accumulated depreciation of $19,000 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000).)
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