Shown below are comparative statements of financial position for Grouper Corporation. GROUPER CORPORATION Statement of Financial...
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Shown below are comparative statements of financial position for Grouper Corporation. GROUPER CORPORATION Statement of Financial Position December 31 Assets 2025 2024 Cash $37,980 $21,120 Term deposits 27,300 0 Accounts receivable 81,600 72,960 Inventory 163,200 181,440 Land 76,800 96,000 Equipment 249,600 192,000 Accumulated depreciation - equipment (63,360) (30,720) $573,120 $532,800 Liabilities and Shareholders' Equity Accounts payable $37,440 $45,120 Bonds payable 144,000 192,000 Common shares 207,360 167,040 Retained earnings 184,320 128,640 $573,120 $532,800 Additional information: 1. Net income for 2025 was $89,280. There were no gains or losses reported on the statement of income. 2. Cash dividends of $33,600 were declared and paid. 3. Bonds payable amounting to $48,000 were redeemed for cash $48,000. The bonds were originally issued at face value (no premium or discount). 4. Common shares were issued for $40,320 cash. 5. No land was purchased during 2025. 6. No equipment was disposed of during 2025. Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) GROUPER CORPORATION Statement of Cash Flows Adjustments to reconcile net income to > EA +A +A $ +A $ Shown below are comparative statements of financial position for Grouper Corporation. GROUPER CORPORATION Statement of Financial Position December 31 Assets 2025 2024 Cash $37,980 $21,120 Term deposits 27,300 0 Accounts receivable 81,600 72,960 Inventory 163,200 181,440 Land 76,800 96,000 Equipment 249,600 192,000 Accumulated depreciation - equipment (63,360) (30,720) $573,120 $532,800 Liabilities and Shareholders' Equity Accounts payable $37,440 $45,120 Bonds payable 144,000 192,000 Common shares 207,360 167,040 Retained earnings 184,320 128,640 $573,120 $532,800 Additional information: 1. Net income for 2025 was $89,280. There were no gains or losses reported on the statement of income. 2. Cash dividends of $33,600 were declared and paid. 3. Bonds payable amounting to $48,000 were redeemed for cash $48,000. The bonds were originally issued at face value (no premium or discount). 4. Common shares were issued for $40,320 cash. 5. No land was purchased during 2025. 6. No equipment was disposed of during 2025. Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) GROUPER CORPORATION Statement of Cash Flows Adjustments to reconcile net income to > EA +A +A $ +A $
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