Comparative balance sheets for Pharoah Company are as follows. Pharoah Company Comparative Balance Sheets December 31...

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Comparative balance sheets for Pharoah Company are as follows. Pharoah Company Comparative Balance Sheets December 31 Assets 2025 2024 Cash $80,500 $22,100 Accounts receivable 84,500 76,200 Inventory 180,000 190,200 Land 82,000 106,000 Equipment 264,000 204,000 Accumulated depreciation-equipment (63,500) (40,400) Total $627,500 $558,100 Liabilities and Stockholders' Equity Accounts payable $33,700 $47,300 Bonds payable 164,000 210,000 Common stock ($1 par) 222,000 162,000 Retained earnings 207,800 138,800 Total $627,500 $558,100 Additional information: 1. Net income for 2025 was $136,000. 2. Cash dividends of $67,000 were declared and paid. 3. Bonds payable with a carrying value of $46,000 were redeemed for $46,000 cash. 4. Common stock was issued at par for $60,000 cash. 5. Depreciation expense was $23,100. 6. Sales revenue for the year was $970,000. 7. Land was sold at cost, and equipment was purchased for cash. Prepare a worksheet for a statement of cash flows for 2025 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis eg. (15,000)) Balance Sheet Accounts Debits Total Total Credits Statement of Cash Flow Effects Operating activities Investing activities Financing activities Totals Totals < < < < < $ $ $ PHAROAH COMPANY Worksheet-Statement of Cash Flows Balance 12/31/24 $ $ Debit Save for Later Attempts: 0 of 2 used Submit Answer Reconciling $ Comparative balance sheets for Pharoah Company are as follows. Pharoah Company Comparative Balance Sheets December 31 Assets 2025 2024 Cash $80,500 $22,100 Accounts receivable 84,500 76,200 Inventory 180,000 190,200 Land 82,000 106,000 Equipment 264,000 204,000 Accumulated depreciation-equipment (63,500) (40,400) Total $627,500 $558,100 Liabilities and Stockholders' Equity Accounts payable $33,700 $47,300 Bonds payable 164,000 210,000 Common stock ($1 par) 222,000 162,000 Retained earnings 207,800 138,800 Total $627,500 $558,100 Additional information: 1. Net income for 2025 was $136,000. 2. Cash dividends of $67,000 were declared and paid. 3. Bonds payable with a carrying value of $46,000 were redeemed for $46,000 cash. 4. Common stock was issued at par for $60,000 cash. 5. Depreciation expense was $23,100. 6. Sales revenue for the year was $970,000. 7. Land was sold at cost, and equipment was purchased for cash. Prepare a worksheet for a statement of cash flows for 2025 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis eg. (15,000)) Balance Sheet Accounts Debits Total Total Credits Statement of Cash Flow Effects Operating activities Investing activities Financing activities Totals Totals < < < < < $ $ $ PHAROAH COMPANY Worksheet-Statement of Cash Flows Balance 12/31/24 $ $ Debit Save for Later Attempts: 0 of 2 used Submit Answer Reconciling $