Rojas Corporation's comparative balance sheets are presented below: Additional information: 1 . Net income was $22,630. Dividends
Question:
Rojas Corporation's comparative balance sheets are presented below:
Additional information:
1. Net income was $22,630. Dividends declared and paid were $19,500.
2. No noncash investing and financing activities occurred during 2022.
3. The land was sold for cash of $4,900.Instructions
Instructions
a. Prepare a statement of cash flows for 2022 using the indirect method.
b. Compute free cash flow.
Transcribed Image Text:
Cash Accounts receivable Land Rojas Corporation Comparative Balance Sheets December 31 Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2022 $ 14,300 21,200 20,000 70,000 (15,000) $110,500 $ 12,370 75,000 23,130 $110,500 2021 $ 10,700 23,400 26,000 70,000 (10,000) $120,100 $31,100 69,000 20,000 $120,100
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Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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