Do not give answer in image Current Attempt in ProgressThe comparative balance sheets for Acme Company appear below:CashAccounts receivableInventoryPrepaid insuranceStock investmentsEquipmentAccumulated depreciation-equipmentTotal assetsAdditional information:Accounts payableBonds payableCommon stockRetained earningsTotal liabilities and stockholder's equity1.2.ACME COMPANYComparative Balance Sheet3.4.AssetsDec. 31, 2025$38,00018,00025,0007,000-0-60,000(18,000)Liabilities and Stockholders' Equity$130,000$25,00037,00040,00028,000$130,000Dec. 31, 2024$13,00014,00015,0009,00018,00030,000(14,000)$85,000$7,00045,00023,00010,000$85,000Net income for the year ending December 31, 2025 was $30,000.Cash dividends of $12,000 were declared and paid during the year.Stock investments on balance sheet that had a book value of $18,000 were sold for $13,000.Sales for 2025 are $130,000.Prepare a statement of cash flows for the year ended December 31, 2025, using the indirect method. (Show amounts that decrease cashflow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Lets understand the basics.Cashflow statement indicates all the cash inflow and outflow occur…

Answered: The comparative balance sheets for Acme…

The comparative balance sheets for Acme Company appear below: Cash Accounts receivable ACME COMPANY Comparative Balance Sheet Assets Dec. 31, 2025 $38,000 18,000 Dec. 31, 2024 $13,000 14,000

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.10E

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cash flow statment Assets Long term investments long-term assets Brand name & Goodwell The comparative statements of financial position of Lopez Inc. at the beginning and the end of the year 2022 appear as follows. Inventory Accounts receivable Cash Total J Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Income Tax payable Total Ć Lopez Inc. Statements of Financial Position Dec.31, 2022 $ 56,000 115,000 50,000 100,000 65,000 12,000 $398,000 $250,000 61,000 53,000 34,000 $398,000 Jan. 1, 2022 $ 40,000 150,000 43,000 60,000 40,000 43,000 $376,000 $ 200,000 91,000 75,000 10,000 $376,000 Additional information Net income $90,000 Deprecation on long term assets $25,000 dividends of $15,000 were paid in 2022 a long-term asset with a net book value of $10,000 were sold at a gain of $17,000 Instructions From the information given above, prepare a Cash Flow Statement for Lopez Inc. for the period ending 31st Dec., 2022 (Using indirect method). Show very clearly…
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