The comparative balance sheet of Robeson Educational Supply at December 31, 2024, reported the following:

Robeson’s transactions during 2024 included the following:

Requirements
1. Prepare the statement of cash flows of Robeson Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities.
2. Evaluate Robeson’s cash flows for the year. Mention all three categories of cash flows and give the reason for your evaluation.
3. If Robeson plans similar activity for 2024, what is its expected free cash flow?

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Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Accrued Liabilities 2024 $ 83,900 14,500 61,800 29,600 10,500 2023 $ 20,500 21,800 60,400 28,100 11,900