Rojas Corporation's comparative balance sheets are presented below. Additional information: 1. Net income was $22,630. Dividends declared
Question:
Additional information:
1. Net income was $22,630. Dividends declared and paid were $19,500.
2. No noncash investing and financing activities occurred during 2019.
3. The land was sold for cash of $4,900.
Instructions
(a) Prepare a statement of cash flows for 2019 using the indirect method.
(b) Compute free cash flow.
Transcribed Image Text:
ROJAS CORPORATION Comparative Balance Sheets December 31 2019 2018 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $14,300 21,200 20,000 70,000 (15,000) $110,500 $ 10,700 23,400 26,000 70,000 (10,000) $120,100 Total $12,370 75,000 23,130 $110,500 31,100 69,000 20,000 $120,100 Accounts payable Common stock Retained earnings Total
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Related Book For
Financial Accounting
ISBN: 978-1119305736
10th edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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