Garfunkel Inc. reported the following on the companys statement of cash flows in Year 2 and Year
Question:
Garfunkel Inc. reported the following on the company’s statement of cash flows in Year 2 and Year 1:
Eighty percent of the net cash flow used for investing activities was used to replace existing capacity.
a. Determine Garfunkel’s free cash flow for both years.
b. Has Garfunkel’s free cash flow improved or declined from Year 1 to Year 2?
Transcribed Image Text:
Year 2 $623,000 $396,000 Year 1 Net cash flows from operating activities Net cash flows uned for investing activities Net cash flows used for financing activities (S59,000 (495.000) (55,000 (77.000)
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Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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