Martinez Inc. had the following balance sheet at December 31, 2024. Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. 7. 8. Martinez Inc. Balance Sheet December 31, 2024 $23,760 Accounts payable (a) 24,960 35,760 81,000 43,760 $209,240 Notes payable (long-term) Common stock Retained earnings $33,760 44,760 103,760 MARTINEZ INC. 26,960 $209,240 Martinez Inc. sold part of its debt investment portfolio for $17,060. This transaction resulted in a gain of $5,460 for the firm. The company classifies these investments as available-for-sa A tract of land was purchased for $16,760 cash. Long-term notes payable in the amount of $18,060 were retired before maturity by paying $18,060 cash. An additional $22,060 in common stock was issued at par. Dividends of $10,260 were declared and paid to stockholders. Net income for 2025 was $35,760 after allowing for depreciation of $13,060. Land was purchased through the issuance of $38,760 in bonds. At December 31, 2025, Cash was $40,760, Accounts Receivable was $45,360, and Accounts Payable remained at $33,760. Prepare a statement of cash flows for 2025. (Show amounts that decrease cash flow with either a-sign ea. 15.000 or in parenthesis eg (15.000)
Martinez Inc. had the following balance sheet at December 31, 2024. Cash Accounts receivable Investments Plant assets (net) Land 1. 2. 3. 4. During 2025, the following occurred. 5. 6. 7. 8. Martinez Inc. Balance Sheet December 31, 2024 $23,760 Accounts payable (a) 24,960 35,760 81,000 43,760 $209,240 Notes payable (long-term) Common stock Retained earnings $33,760 44,760 103,760 MARTINEZ INC. 26,960 $209,240 Martinez Inc. sold part of its debt investment portfolio for $17,060. This transaction resulted in a gain of $5,460 for the firm. The company classifies these investments as available-for-sa A tract of land was purchased for $16,760 cash. Long-term notes payable in the amount of $18,060 were retired before maturity by paying $18,060 cash. An additional $22,060 in common stock was issued at par. Dividends of $10,260 were declared and paid to stockholders. Net income for 2025 was $35,760 after allowing for depreciation of $13,060. Land was purchased through the issuance of $38,760 in bonds. At December 31, 2025, Cash was $40,760, Accounts Receivable was $45,360, and Accounts Payable remained at $33,760. Prepare a statement of cash flows for 2025. (Show amounts that decrease cash flow with either a-sign ea. 15.000 or in parenthesis eg (15.000)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 49E
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