Use the given balance sheet of 2024 and prepare following statements for 2025.

Required
Prepare a statement of cash flow for year ended December 31, 2025
Prepare unclassified balance sheet as it would appear at December 31, 2025

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Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. Sheridan Inc. Balance Sheet December 31, 2024 $ 23,380 24,580 7. 32,000 84,380 43,380 $207,720 Accounts payable Bonds payable Common stock Retained earnings $33,380 44,380 103,380 26,580 $207,720 Sheridan liquidated its available-for-sale debt investment portfolio at a loss of $8,380. A tract of land was purchased for $41,380. An additional $30,000 in common stock was issued at par. Dividends totaling $13,380 were declared and paid to stockholders. Net income for 2025 was $38,380, including $15,380 in depreciation expense. Land was purchased through the issuance of $33,380 in additional bonds. At December 31, 2025, Cash was $73,580, Accounts Receivable was $45,380, and Accounts Payable was $43,380. Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. Sheridan Inc. Balance Sheet December 31, 2024 $ 23,380 24,580 7. 32,000 84,380 43,380 $207,720 Accounts payable Bonds payable Common stock Retained earnings $33,380 44,380 103,380 26,580 $207,720 Sheridan liquidated its available-for-sale debt investment portfolio at a loss of $8,380. A tract of land was purchased for $41,380. An additional $30,000 in common stock was issued at par. Dividends totaling $13,380 were declared and paid to stockholders. Net income for 2025 was $38,380, including $15,380 in depreciation expense. Land was purchased through the issuance of $33,380 in additional bonds. At December 31, 2025, Cash was $73,580, Accounts Receivable was $45,380, and Accounts Payable was $43,380.

Answer rating: 100% (QA)

Answer Below is Statement of Cash Flows for the Year Ended December 31 2025 and Unclassified Balance ... View the full answer