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The income statement, balance sheets, and additional information for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Income Statement Net revenues: For the Year
The income statement, balance sheets, and additional information for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Income Statement Net revenues: For the Year Ended December 31, 2025 Expenses: Cost of goods sold operating expenses Depreciation expense Interest expense. Income tax expense Total expenses Net income 148,448$39,032 GREAT ADVENTURES, INCORPORATED Balance Sheets December 31,2025 and 2024 Assets Current assets: Cash Accounts receivable Inventory other current assets Long-term assets: Land Bulldings Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity (I) (I) (I) (D) Current liabilities: Accounts payable Interest payable Income tax payable other current liabilities Notes payable (current a Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock \begin{tabular}{rrrr} 720,000 & 0 & 720,000 & (I) \\ 866,000 & 0 & 866,000 & (I) \\ 84,660 & 51,000 & 33,660 & (I) \\ (27,450) & (8,550) & 18,900 & (I) \\ \hline$1,967,674 & $112,550 \\ \hline \end{tabular} (I) (I) (I) (I) 1. Land of $720,000 was obtained by issuing a note payable to the seller. 2. Buildings of $866,000 and equipment of $33,660 were purchased using cash. 3. Monthly payments during the year reduced notes payable by $8,808. 4. Issued common stock for $1,220,000. 5. Purchased 12,200 shares of treasury stock for $26 per share. 6. Sold 6,200 shares of treasury stock at $27 per share. 7. Declared and paid a cash dividend of $14,040. Required: Prepare the statement of cash flows for the year ended December 31, 2025, using the indirect method. (Amounts to be dedu cash outflows, and any decrease in cash should be indicated with a minus sign.)
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