Question: Meera Corporation?s comparative balance sheets are presented below. Additional information:1. Net income was $22,630. Dividends declared and paid were $19,500.2. All other changes in noncurrent

Meera Corporation?s comparative balance sheets are presented below.

Additional information:1. Net income was $22,630. Dividends declared and paid were $19,500.2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,900.Instructions(a) Prepare a statement of cash flows for 2012 using the indirect method.(b) Compute free cashflow.

MEERA CORPORATION Comparative Balance Sheets December 31 2012 2011 $ 14.300 $ 10,700 Cash Accounts receivable 21.200 23.400 Land 26,000 20.000 Buildings Accumulated depreciation-buildings 70,000 70.000 (15,000) (10,000) Total $120.100 $110.500 S 12.370 $ 31,100 Accounts payable Common stock 75.000 69.000 Retained earnings 23.130 20,000 $120,100 Total $110.500

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