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Use the given balance sheet of 2024 and prepare following statements for 2025. Required Prepare a statement of cash flow for year ended December 31,
Use the given balance sheet of 2024 and prepare following statements for 2025.
Required
Prepare a statement of cash flow for year ended December 31, 2025
Prepare unclassified balance sheet as it would appear at December 31, 2025
Required
Prepare a statement of cash flow for year ended December 31, 2025
Prepare unclassified balance sheet as it would appear at December 31, 2025
Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. Sheridan Inc. Balance Sheet December 31, 2024 $ 23,380 24,580 7. 32,000 84,380 43,380 $207,720 Accounts payable Bonds payable Common stock Retained earnings $33,380 44,380 103,380 26,580 $207,720 Sheridan liquidated its available-for-sale debt investment portfolio at a loss of $8,380. A tract of land was purchased for $41,380. An additional $30,000 in common stock was issued at par. Dividends totaling $13,380 were declared and paid to stockholders. Net income for 2025 was $38,380, including $15,380 in depreciation expense. Land was purchased through the issuance of $33,380 in additional bonds. At December 31, 2025, Cash was $73,580, Accounts Receivable was $45,380, and Accounts Payable was $43,380.
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