Blossom Corporation's comparative balance sheets are as follows. Blossom Corporation Comparative Balance Sheets December 31 Cash 2025 2024 $9,500 $18.500
Blossom Corporation's comparative balance sheets are as follows. Blossom Corporation Comparative Balance Sheets December 31 Cash 2025 2024 $9,500 $18.500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Blossom Corporation's comparative balance sheets are as follows.
Blossom Corporation
Comparative Balance Sheets
December 31
2025
2024
Cash
Accounts receivable
$9,500
$18,500
25,400
22.000
Investments
Equipment
Accumulated depreciation-equipment
21.000
15,600
65,500
77.500
(14,900) (10,600)
Total
$106,500 $123,000
Accounts payable
$15,200
$11,000
Bonds payable
14,000
40,000
Common stock
50,000
46,500
Retained earnings
27,300
25,500
Total
$106,500 $123,000
Additional information:
1. Net income was $18,600. Dividends declared and paid were $16.800.
2. Equipment which cost $12,000 and had accumulated depreciation of $1,500 was sold for $4,000.
3.
No noncash investing and financing activities occurred during 2025.
4.
Bonds were retired at their carrying value.
(a)
Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg
-15.000 or in parenthesis eg. (15,000)
BLOSSOM CORPORATION
Statement of Cash Flows - Indirect Method
Adjustments to reconcile net income to](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff8f1e7e8-4377-4712-aa0d-15f0d8934186%2F5939161b-740d-4d1d-99db-80eed2bd62f5%2Fr9jva4h_processed.png&w=3840&q=75)
Transcribed Image Text:Blossom Corporation's comparative balance sheets are as follows.
Blossom Corporation
Comparative Balance Sheets
December 31
2025
2024
Cash
Accounts receivable
$9,500
$18,500
25,400
22.000
Investments
Equipment
Accumulated depreciation-equipment
21.000
15,600
65,500
77.500
(14,900) (10,600)
Total
$106,500 $123,000
Accounts payable
$15,200
$11,000
Bonds payable
14,000
40,000
Common stock
50,000
46,500
Retained earnings
27,300
25,500
Total
$106,500 $123,000
Additional information:
1. Net income was $18,600. Dividends declared and paid were $16.800.
2. Equipment which cost $12,000 and had accumulated depreciation of $1,500 was sold for $4,000.
3.
No noncash investing and financing activities occurred during 2025.
4.
Bonds were retired at their carrying value.
(a)
Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg
-15.000 or in parenthesis eg. (15,000)
BLOSSOM CORPORATION
Statement of Cash Flows - Indirect Method
Adjustments to reconcile net income to
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