Rodriquez Corporations comparative balance sheets are as follows. Additional information: 1. Net income was $18,300. Dividends declared

Question:

Rodriquez Corporation’s comparative balance sheets are as follows. 

Additional information:

1. Net income was $18,300. Dividends declared and paid were $16,400.

2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.

3. No noncash investing and financing activities occurred during 2022.

4. Bonds were retired at their carrying value.


Instructions

a. Prepare a statement of cash flows for 2022 using the indirect method.

b. Compute free cash flow.

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Related Book For  book-img-for-question

Managerial Accounting Tools For Business Decision Making

ISBN: 9781119709589

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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