(Solution) - Ryan Inc had the following condensed balance sheet at the -(2025 Original AI-Free Solution)

Paper Details

Ryan Inc. had the following condensed balance sheet at the end of operations for 2013.

During 2014 the following occurred.
1. Land was purchased for $29,000.
2. Notes payable in the amount of $45,500 were paid.
3. An additional $10,000 in capital stock was issued for $23,500.
4. Dividends totaling $12,500 were paid to stockholders.
5. Net income was $49,600 after allowing depreciation of $21,800.
6. Plant assets were purchased through the issuance of $50,000 in bonds.
7. Both current assets (other than cash) and current liabilities remained at the same amount.

Instructions
(a) Prepare a statement of cash flows for 2014 using the indirect method.
(b) Prepare the condensed balance sheet for Ryan Inc. as it would appear at December 31,2014.