Comparative Balance Sheets December 31 2025 2024 Assets Cash $161,600 $96,800 Accounts receivable 175,600 76,000 Inventory...

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Comparative Balance Sheets December 31 2025 2024 Assets Cash $161,600 $96,800 Accounts receivable 175,600 76,000 Inventory 225,000 205,700 Prepaid expenses 56,800 52,000 Long-term investments 276,000 218,000 Plant assets 570,000 485,000 Accumulated depreciation (100,000) (104,000) Total $1,365,000 $1,029,500 Liabilities and Stockholders' Equity Accounts payable $204,000 $134,600 Accrued expenses payable 33,000 42,000 Bonds payable 220,000 292.000 Common stock 440,000 350,000 Retained earnings 468,000 210,900 Total $1,365,000 $1,029,500 Shamrock Inc. Income Statement Data For the Year Ended December 31, 2025 Sales revenue $776,920 Less: Cost of goods sold $270.920 Operating expenses, excluding depreciation 24,820 Depreciation expense 93,000 Income tax expense 54,560 Interest expense 9,460 Loss on disposal of plant assets 15,000 467,760 Net income $309,160 1. New plant assets costing $200,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $115,000 and accumulated depreciation of $97,000 were sold for $3,000 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $52,060 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).) Adiuitmentictocon SHAMROCK INC. Statement of Cash Flows-Indirect Method oncile net income to Comparative Balance Sheets December 31 2025 2024 Assets Cash $161,600 $96,800 Accounts receivable 175,600 76,000 Inventory 225,000 205,700 Prepaid expenses 56,800 52,000 Long-term investments 276,000 218,000 Plant assets 570,000 485,000 Accumulated depreciation (100,000) (104,000) Total $1,365,000 $1,029,500 Liabilities and Stockholders' Equity Accounts payable $204,000 $134,600 Accrued expenses payable 33,000 42,000 Bonds payable 220,000 292.000 Common stock 440,000 350,000 Retained earnings 468,000 210,900 Total $1,365,000 $1,029,500 Shamrock Inc. Income Statement Data For the Year Ended December 31, 2025 Sales revenue $776,920 Less: Cost of goods sold $270.920 Operating expenses, excluding depreciation 24,820 Depreciation expense 93,000 Income tax expense 54,560 Interest expense 9,460 Loss on disposal of plant assets 15,000 467,760 Net income $309,160 1. New plant assets costing $200,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $115,000 and accumulated depreciation of $97,000 were sold for $3,000 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $52,060 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).) Adiuitmentictocon SHAMROCK INC. Statement of Cash Flows-Indirect Method oncile net income to