Blossom Company reported the following information for 2025. Blossom Company Comparative Balance Sheets December 31 Assets...

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Blossom Company reported the following information for 2025. Blossom Company Comparative Balance Sheets December 31 Assets 2025 2024 Change Increase/Decrease Cash. $88,500 $54,000 $34,500 Increase Accounts receivable 93,000 33,000 60,000 Increase Inventory 66,000 -0- 66,000 Increase Prepaid expenses 9,000 6,000 3,000 Increase Land 82,500 105,000 22.500 Decrease Buildings 300,000 300,000 -0- No change Accumulated depreciation-buildings (31,500) (21,000) 10,500 Increase Equipment 274,500 102,000 172,500 Increase Accumulated depreciation-equipment (42,000) (15,000) 27,000 Increase Totals Liabilities and Stockholders' Equity $840,000 $564,000 Accounts payable $64,500 $60,000 $4,500 Increase Accrued expenses payable 0 15,000 15,000 Decrease Bonds payable 150,000 225,000 75,000 Decrease Common stock ($1 par) 345,000 90,000 255,000 Incre Retained earnings 280,500 174,000 106,500 Increa Totals $840,000 $564,000 Blossom Company Income Statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Operating expenses $1,411,500 $712,500 346,500 Loss on disposal of plant assets 3,000 1,080,000 Income before income taxes 331,500) Income tax expense 97,500 Net income $234,000 Additional information: 1. Operating expenses include depreciation expense of $60,000. 2. Land was sold at its book value for cash. 3. Cash dividends of $127,500 were declared and paid in 2025. 4. Equipment with a cost of $249,000 was purchased for cash. Equipment with a cost of $76,500 and a book value of $54,000 was sold for $51,000 cash 5. Bonds of $75,000 were redeemed at their face value for cash. 6. Common stock ($1 par) was issued at par for $255,000 cash. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to S A > > Blossom Company reported the following information for 2025. Blossom Company Comparative Balance Sheets December 31 Assets 2025 2024 Change Increase/Decrease Cash. $88,500 $54,000 $34,500 Increase Accounts receivable 93,000 33,000 60,000 Increase Inventory 66,000 -0- 66,000 Increase Prepaid expenses 9,000 6,000 3,000 Increase Land 82,500 105,000 22.500 Decrease Buildings 300,000 300,000 -0- No change Accumulated depreciation-buildings (31,500) (21,000) 10,500 Increase Equipment 274,500 102,000 172,500 Increase Accumulated depreciation-equipment (42,000) (15,000) 27,000 Increase Totals Liabilities and Stockholders' Equity $840,000 $564,000 Accounts payable $64,500 $60,000 $4,500 Increase Accrued expenses payable 0 15,000 15,000 Decrease Bonds payable 150,000 225,000 75,000 Decrease Common stock ($1 par) 345,000 90,000 255,000 Incre Retained earnings 280,500 174,000 106,500 Increa Totals $840,000 $564,000 Blossom Company Income Statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Operating expenses $1,411,500 $712,500 346,500 Loss on disposal of plant assets 3,000 1,080,000 Income before income taxes 331,500) Income tax expense 97,500 Net income $234,000 Additional information: 1. Operating expenses include depreciation expense of $60,000. 2. Land was sold at its book value for cash. 3. Cash dividends of $127,500 were declared and paid in 2025. 4. Equipment with a cost of $249,000 was purchased for cash. Equipment with a cost of $76,500 and a book value of $54,000 was sold for $51,000 cash 5. Bonds of $75,000 were redeemed at their face value for cash. 6. Common stock ($1 par) was issued at par for $255,000 cash. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to S A > >