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Compute free cash flow. The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 Cash $

Compute free cash flow.

The following are the financial statements of Nosker Company.

NOSKER COMPANY
Comparative Balance Sheets
December 31

Assets


2017


2016

Cash

$ 37,100



$ 20,100


Accounts receivable

32,900



19,500


Inventory

29,900



20,900


Equipment

59,700



77,500


Accumulated depreciation—equipment

(29,100

)


(23,400

)

Total

$130,500



$114,600









Liabilities and Stockholders’ Equity







Accounts payable

$ 28,300



$ 17,000


Income taxes payable

7,000



8,400


Bonds payable

27,300



33,600


Common stock

17,200



14,600


Retained earnings

50,700



41,000


Total

$130,500



$114,600



NOSKER COMPANY
Income Statement
For the Year Ended December 31, 2017

Sales revenue

$241,100

Cost of goods sold

176,400

Gross profit

64,700

Operating expenses

23,400

Income from operations

41,300

Interest expense

3,600

Income before income taxes

37,700

Income tax expense

8,600

Net income

$ 29,100


Additional data:

1.
Dividends declared and paid were $19,400.
2.
During the year equipment was sold for $9,800 cash. This equipment cost $17,800 originally and had a book value of $8,000 at the time of sale.
3.
All depreciation expense, $13,700, is in the operating expenses.
4.
All sales and purchases are on account.


1. Compute free cash flow.The following are the f 

NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2017 # Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Depreciation Expense Cash Flows from Investing Activities Sale of Equipment + Net Increase in Cash Cash at Beginning of Period Cash at End of Period # Net Cash Provided by Operating Activities : # Cash Flows from Financing Activities Issuance of Common Stock Payment of Dividends Redemption of Bonds Net Cash Used by Financing Activities : # # # # # + -13400 -9000 11300 -1400 13700 2600 -19400 -6300 29100 1200 30300 9800 -23100 17000 20100 37100

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