Wildhorse Inc.

Statement of Income

Year Ended December $31,2024$

Other income and expenses$($a$)$ Prepare the statement of cash flows using the direct method. $($Show amounts that decrease cash flow with either $a-$ sign e$.$g$.-15,000$ or

in parenthesis e$.$g$.(15,000).)$ Statement of Cash Flows

For the Year Ended December $31,2024$

Cash Receipts from Customers

Cash Payments

To Suppliers

For Other Operating Expenses

For Interest

For Income Taxes

Net Cash Provided by Operating Activities

Cash Flows from Investing Activities

For

For Income Taxes Net Cash Provided by Operating Activities

Net Cash Provided by Investing Activities

Cash Flows from Financing ActivitiesCash Flows from Financing Activities

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$1$

Cash Flows from Financing Activities

$The statement of income and unclassified statement of financial position for Wildhorse Inc. follow:

$\backslash$table$[[\backslash$table$[[$Wildhorse Inc.$],[$Statement of Financial Position$],[$December $31]]],[$Assets$,2024,2023],[$Cash$,$$$84,100,$$$48,200],[$Accounts receivable,$80,800,37,000],[$Inventory$,131,000,102,000],[$Estimated inventory returns,$1,690,1,100],[$Long$-$term investments,$93,700,107,000],[$Equipment$,290,300,206,000],[$Accumulated depreciation,$(50,000),(39,800)],[$Total assets,$$631,590,$$$461,500],[$Liabilities and Shareholders' Equity$],[$Accounts payable,$$63,200,$$$48,300],[$Property tax payable,$11,000,18,000],[$Refund liability,$910,710],[$Bank loan payable$-$current portion,$127,000,60,000],[$Bank loan payable$-$non$-$current portion,$14,100,10,100],[$Common shares,$240,000,198,000],[$Retained earnings,$175,380,126,390],[$Total liabilities and shareholders' equity,$$631,590,$$$461,500]]$