Blossom Company Income Statement For the Year Ended December 31, 2025 Service revenue Operating expenses, excluding depreciation $921,000 Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $1,455,000 82,500 24,000 1,027,500 427.500 84,000 $343,500 Blossom's balance sheets contained the following comparative data at December 31. 2025 2024 Accounts receivable $105,000 $90,000 Accounts payable 61,500 48,000 Income taxes payable 19,500 10,500 13 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).)
Blossom Company Income Statement For the Year Ended December 31, 2025 Service revenue Operating expenses, excluding depreciation $921,000 Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $1,455,000 82,500 24,000 1,027,500 427.500 84,000 $343,500 Blossom's balance sheets contained the following comparative data at December 31. 2025 2024 Accounts receivable $105,000 $90,000 Accounts payable 61,500 48,000 Income taxes payable 19,500 10,500 13 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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