Question

Presented below is a condensed version of the comparative balance sheets for Garcia Corporation for the last two years at December 31.


Additional information:
Investments were sold at a loss (not extraordinary) of $25,000; no equipment was sold; cash dividends paid were $75,000; and net income was $400,000.

Instructions
(a) Prepare a statement of cash flows for 2012 for Garcia Corporation.
(b) Determine Garcia Corporation’s free cashflow.


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  • CreatedJune 07, 2013
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