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Tamarisk Inc. had the following balance sheet at December 31, 2024. Tamarisk Inc. Balance Sheet December 31, 2024 Cash $22,640 Accounts payable $32,640 Accounts receivable
Tamarisk Inc. had the following balance sheet at December 31, 2024.
Tamarisk Inc. Balance Sheet December 31, 2024 | ||||||
Cash | $22,640 | Accounts payable | $32,640 | |||
Accounts receivable | 23,840 | Notes payable (long-term) | 43,640 | |||
Investments | 34,640 | Common stock | 102,640 | |||
Plant assets (net) | 81,000 | Retained earnings | 25,840 | |||
Land | 42,640 | $204,760 | ||||
$204,760 |
During 2025, the following occurred.
1. | Tamarisk Inc. sold part of its debt investment portfolio for $16,327. This transaction resulted in a gain of $4,727for the firm. The company classifies these investments as available-for-sale. | |
2. | A tract of land was purchased for $15,640cash. | |
3. | Long-term notes payable in the amount of $17,327were retired before maturity by paying $17,327cash. | |
4. | An additional $21,327in common stock was issued at par. | |
5. | Dividends of $9,527were declared and paid to stockholders. | |
6. | Net income for 2025 was $34,640after allowing for depreciation of $12,327. | |
7. | Land was purchased through the issuance of $37,640in bonds. | |
8. | At December 31, 2025, Cash was $39,640, Accounts Receivable was $44,240, and Accounts Payable remained at $32,640. |
Prepare an unclassified balance sheet at it would appear at December 31, 2025
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