Trainer 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 by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Trainer Exercise Equipment, Inc. reported the following financial statements for 2024: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Data table weronaturae memory Long-term Assets: Plant Assets 267,300 224,100 Accumulated Depreciation-Plant Assets (41,300) (35,100) 90,000 77,000 Investments $ 480,000 $ 418,000 Total Assets Liabilities Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: $ 78,000 $ 73,000 1,500 5,500 64,000 70,000 Notes Payable Total Liabilities 143,500 148,500 Stockholders' Equity Common Stock, no par 43,000 37,000 293,500 232,500 Retained Earnings Total Stockholders' Equity 336,500 269,500 $ 480,000 $ 418,000 Total Liabilities and Stockholders' Equity Print Done More info Trainer calculated the following amounts for 2024 Acquisition value of plant assets, $90,000 Payment of dividends, $77.000. Payment of long-term notes payable, $6,000 Cash receipt from issuance of common stock, $6,000 Trainer Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $46,800. No cash was received upon disposal Cash Trainer Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Trainer Exercise Equipment, inc Income Statement Year Ended December 31, 2024 Assets Net Sales Revenue Cument Assets Cost of Goods Sold $ 22,000 $ 14.000 Gross Profe $ 714.000 343,000 371.000 Accounts Receivable 54.000 47,000 Operating Expenses Merchandise Inventory 88.000 91,000 Depreciation Expense $ ong-term Assets 53.000 180,000 Plant Assets 247,300 224,100 Other Operating Expenses Total Operating Expenses 233.000 Print Done Accumulated Depreciation-Plant Assets (41,300) 05.100 138.000 Net Income Investments 90.000 77,000 480,000 $ 418,000 Total Assets Statement of Cash Flows Year Ended December 31, 2024 Print Done Current Liabilities Cash Flows from Operating Activities Accounts Payable $ 78,000 $ 73,000 Net Income Adjustments to Reconcile Net Income to Net Cash Salaries Payable 1,500 5.500