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Condensed financial data of Culver Corp. for 2025 and 2024 are presented below. \begin{tabular}{|c|c|} \hline Bonds payable & 830 \\ \hline Capital stock & 1,520 \\ \hline \multirow[t]{2}{*}{ Retained earnings } & 2,270 \\ \hline & $5,710 \\ \hline \end{tabular} CULVER CORP. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2025 \begin{tabular}{lr} Sales & $15,240 \\ Cost of goods sold & 10,390 \\ \cline { 2 - 2 } Gross margin & 4,850 \\ Selling and administrative expenses & 1,215 \\ Income from operations & 3,635 \end{tabular} Other revenues and gains \begin{tabular}{lr} Loss on sale of investments & 40 \\ \cline { 2 - 2 } Income before tax & 3,595 \\ Income tax expense & 1,410 \end{tabular} Additional information: During the year, \$100 of common stock was issued in exchange for land. No plant assets were sold in 2025. Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease with either a-signe.g. 15,000 or in parenthesis eg. (15,000) ). CULVER CORP. Statement of Cash Flows For the Year Ended December 31, 2025 (Direct Method) Cash Flows from Operating Activities Cash Collections from Customers \( \$ \longdiv { 1 5 0 7 0 } \) Less Cish Paidfor Merchandise \( \$ \longdiv { 1 1 2 0 0 } \) Cash Paid for Income Taxes 1410 i Cash Paid for Selling/Administrative Expense Net Cash Provided by Operating Activities Cash Flows from Irvesting Activities Cash Flows from Irvesting Activities Sale of investments \begin{tabular}{|l|l|} \hline 180 \\ \hline \end{tabular} Purchase of Plant Assets Net Cash Used by Imesting Activities Cash Flows from Financing Activities Payment of Cash Dividends Retirement of Bonds Payable Net Cash Used by Financing Activities \begin{tabular}{|r|r|} \hline & -750 \\ \hline \end{tabular} Net Increase in Cash 220 Cash, January 1, 2025 Cash Flows from Financing Activities Payment of Cash Dividends Retirement of Bonds Payable: Net Cash Used by Financing Activities Net Increasc in Cash Cash, January 1.2025 Cash, December 31,2025 Noncash Irvesting and Financing Activities Issuance of Common Stock for Plant Assets \begin{tabular}{|r|} \hline \\ \hline \\ -1500 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline$ & 100 \\ \hline \end{tabular}

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