The following are comparative balance sheets for Ivanhoe Company Ivanhoe Company Comparative Balance Sheets December 31...
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The following are comparative balance sheets for Ivanhoe Company Ivanhoe Company Comparative Balance Sheets December 31 2025 2024 Assets Cash $142,800 $46,200 Accounts receivable 184,800 159,600 Inventory 350,700 396,900 Land 168,000 210,000 Equipment 546,000 420,000 Accumulated depreciation-equipment (138,600) (67,200) Total $1,253,700 $1,165,500 Liabilities and Stockholders' Equity Accounts payable $81,900 $90,300 Bonds payable 315,000 420,000 Common stock ($1 par) 453,600 365,400 Retained earnings 403,200 289,800 Total $1,253,700 $1,165,500 Additional information 22 Net income for 2025 was $195,300. 2 Depreciation expense was $71.400. 3 Cash dividends of $81,900 were declared and paid. 4 Bonds payable with a carrying value of $105,000 were redeemed for $105,000 cash 5. Common stock was issued at par for $88,200 cash. No equipment was sold during 2025. 7. Land was sold for its book value. Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a sign eg 45,000, or in parenthesis eg (45,000) Prepare a statement of cash flows for 2025 using the indirect method, Show emonts that decrease cash flow with either a signes 45,000, or in parenthesis eg (45,000 IVANHOE COMPANY Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to < < < > > > > > 3 The following are comparative balance sheets for Ivanhoe Company Ivanhoe Company Comparative Balance Sheets December 31 2025 2024 Assets Cash $142,800 $46,200 Accounts receivable 184,800 159,600 Inventory 350,700 396,900 Land 168,000 210,000 Equipment 546,000 420,000 Accumulated depreciation-equipment (138,600) (67,200) Total $1,253,700 $1,165,500 Liabilities and Stockholders' Equity Accounts payable $81,900 $90,300 Bonds payable 315,000 420,000 Common stock ($1 par) 453,600 365,400 Retained earnings 403,200 289,800 Total $1,253,700 $1,165,500 Additional information 22 Net income for 2025 was $195,300. 2 Depreciation expense was $71.400. 3 Cash dividends of $81,900 were declared and paid. 4 Bonds payable with a carrying value of $105,000 were redeemed for $105,000 cash 5. Common stock was issued at par for $88,200 cash. No equipment was sold during 2025. 7. Land was sold for its book value. Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a sign eg 45,000, or in parenthesis eg (45,000) Prepare a statement of cash flows for 2025 using the indirect method, Show emonts that decrease cash flow with either a signes 45,000, or in parenthesis eg (45,000 IVANHOE COMPANY Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to < < < > > > > > 3
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