financial statement analysis

Project Description:

rajesh company
comparative balance sheets
december 31


assets

2014

2013

cash
$37,000

$20,000

accounts receivable
33,000

14,000

inventory
30,000

20,000

equipment
60,000

78,000

accumulated depreciation—equipment
(29,000

)

(24,000

)

total
$131,000

$108,000



liabilities and stockholders’ equity

accounts payable
$29,000

$ 15,000

income taxes payable
7,000

8,000

bonds payable
27,000

33,000

common stock
18,000

14,000

retained earnings
50,000

38,000

total
$131,000

$108,000




rajesh company
income statement
for the year ended december 31, 2014

sales revenue
$242,000

cost of goods sold
175,000

gross profit
67,000

operating expenses
24,000

income from operations
43,000

interest expense
3,000

income before income taxes
40,000

income tax expense
8,000

net income
$32,000


additional data:


1. depreciation expense is 13,300.
2. dividends declared and paid were $20,000.
3. during the year equipment was sold for $9,700 cash. this equipment cost $18,000 originally and had accumulated depreciation of $8,300 at the time of sale.

(a) prepare a statement of cash flows using the indirect method. (show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
(b) compute free cash flow.


free cash flow



rajesh company
statement of cash flows
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