(Solved): Presented here are the financial statements of Teal Company. Teal Company Comparative Balance Shee ...

Presented here are the financial statements of Teal Company. Teal Company Comparative Balance Sheets December 31 2025 2024 Assets Cash $77,000 $ 44,000 Accounts receivable 44,000 30,800 Sales revenue Inventory 61600 44,000 Cost of goods sold Property plant and equipment 132,000 171,600 Gross profit Accumulated depreciation (70400) (52.800) Selling expenses Total $244,200 $237,600 Administrative expenses Liabilities and Stockholders' Equity Income from operations Accounts payable $41,800 $ 33,000 Interest expense Income taxes payable 15,400 17,600 Bonds payable 37,400 72.600 Income before income taxes 39,600 30,800 Income tax expense Common stock Retained earnings 110,000 83,600 Net income Total $244.200 $237.600 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a signes 15.000 or in ponthesie (150000) TEAL COMPANY Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2525 CO 70400 Adjustments to reconcle net income to Cash Prop W SY v 14300 $4700 Der Exp Acts Receivable try ni Payarla 38500 13200 000 2200 Teal Company Income Statement For the Year Ended December 31, 2025 $39,600 13.200 Cash Flows from Sale of Eng Cast End of Period Catflow from Fin Payment of Dividends Net Cash Used by financing Aves Natcrease in Cash Cashat Beginning of Period ? ? V $532,400 385,000 147,400 52,800 94,600 6.600 88.000 17,600 $70,400 v ? ? V ? 18700 (36300 AHOD 144000) $ Additional data: 1. Depreciation expense was $38.500. 2? Dividends declared and paid were $44,000. 3. During the year, equipment was sold for $18,700 cash. This equipment originally cost $39,600 and had accumulated depreciation of $20,900 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. 1700 -70400 33000 44000 77000 I