Assets: ABC Industries Comparative Balance Sheets December 31, 2024 and 2023 2024 2023 Cash 1,912,032 $...

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Assets: ABC Industries Comparative Balance Sheets December 31, 2024 and 2023 2024 2023 Cash 1,912,032 $ 1,135,000 of Accounts receivable x 1,775,000 1,350,000 Inventory + 2,700,000 1,575,000 Land 1,675,000 1,800,000 In Building 2,700,000 2,700,000 Less: Accumulated depreciation (900,000) (810,000) In Equipment x 8,550,000 Less: Accumulated depreciation (1,575,000) Patent 3,600,000 $ 20,437,032 6,750,000 (1,440,000) 4,500,000 $ 17,560,000 Liabilities: DM 38 Accounts payable X $ 1,900,000 $ 1,350,000 Accrued expenses payable 900,000 675,000 Cash Dividends Payable 25,000 10,000 Fi Bond Payable 437,032 Shareholders' Equity: Common stock 9,460,000 Paid-in capital-excess of par 2,255,000 SHT 9,000,000 2,025,000 Retained earnings X 5,460,000 4,500,000 bashauzal $ 20,437,032 $ 17,560,000 Additional information from the accounting records: a. During 2024, equipment with a cost of $950,000 (70 % depreciated) was sold for $350,000. b. The Statement of Shareholders' Equity reveals reductions of $690,000 and $1,225,000 for stock dividends and cash dividends, respectively. c. Net income for the year was $2,875,000. d. Land was sold for $80,000. 000,812 e. On May 31, 2024, a bond with a face value of $500,000, and a stated interest rate of 7.0% was issued for $434,959. Interest is paid semi-annually, and no year- end adjusting entry has been made. f. Equipment was purchased with cash during the year. Using this financial statement data, prepare a complete statement of cash flows, using the INDIRECT method. Assets: ABC Industries Comparative Balance Sheets December 31, 2024 and 2023 2024 2023 Cash 1,912,032 $ 1,135,000 of Accounts receivable x 1,775,000 1,350,000 Inventory + 2,700,000 1,575,000 Land 1,675,000 1,800,000 In Building 2,700,000 2,700,000 Less: Accumulated depreciation (900,000) (810,000) In Equipment x 8,550,000 Less: Accumulated depreciation (1,575,000) Patent 3,600,000 $ 20,437,032 6,750,000 (1,440,000) 4,500,000 $ 17,560,000 Liabilities: DM 38 Accounts payable X $ 1,900,000 $ 1,350,000 Accrued expenses payable 900,000 675,000 Cash Dividends Payable 25,000 10,000 Fi Bond Payable 437,032 Shareholders' Equity: Common stock 9,460,000 Paid-in capital-excess of par 2,255,000 SHT 9,000,000 2,025,000 Retained earnings X 5,460,000 4,500,000 bashauzal $ 20,437,032 $ 17,560,000 Additional information from the accounting records: a. During 2024, equipment with a cost of $950,000 (70 % depreciated) was sold for $350,000. b. The Statement of Shareholders' Equity reveals reductions of $690,000 and $1,225,000 for stock dividends and cash dividends, respectively. c. Net income for the year was $2,875,000. d. Land was sold for $80,000. 000,812 e. On May 31, 2024, a bond with a face value of $500,000, and a stated interest rate of 7.0% was issued for $434,959. Interest is paid semi-annually, and no year- end adjusting entry has been made. f. Equipment was purchased with cash during the year. Using this financial statement data, prepare a complete statement of cash flows, using the INDIRECT method.