Rojas Corporations 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

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. 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 2014 using the indirect method.
(b) Compute free cashflow.

ROJAS CORPORATION Comparative Balance Sheets December 31 2014 2013 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 Accounts payable Common stock Retained earnings S 12,370 75,000 23,130 $110,500 31,100 69,000 20,000 $120,100 Total