Question: ASAP NEED HELP PLEASE !!!!! Comparative financial statement data for Carmono Company follow: This Year $ 12.00 68.00 115.00 Assets Cash Accounts receivable Inventory Total


Comparative financial statement data for Carmono Company follow: This Year $ 12.00 68.00 115.00 Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income 195.00 258.00 52.80 205.20 $ 400.20 $69.00 154.00 177.20 $ 400.20 $ 1,300.00 780.00 520.00 500.00 $ 20.00 Required 1 Required 2 Last Year $ 23.00 61.00 102.60 186.60 212.00 39.60 172.40 $ 359.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Complete this question by entering your answers in the tabs below. $ 55.00 118.00 186.00 $ 359.00 Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Carmono Company 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Operating activities: Net income Adjustments to convert net income to a cash basis: Depreciation Increase in accounts receivable Increase in inventory Increase in accounts payable Carmono Company Statement of Cash Flows For This Year Ended December 31 Net cash provided by operating activities Investing activities: Increase in plant and equipment Net cash used in investing activities Financing activities: Issuance of common stock: Cash dividends Net cash provided by financing activities Net decrease in cash Beginning cash and cash equivalents Ending cash and cash equivalents $ Required 2 > 0.00 0.00 0.00 0.00 0.00 0.00 Assets Cash Accounts receivable. Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Sales Cost of goods sold Gross margin Selling and administrative expenses Net income Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: This Year $12.00 68.00 115.00 195.00 258.00 52.80 205.20 $ 400.20 Required 1 Required 2 $69.00 154.00 177.20 $400.20 Free cash flow $ 1,300.00 780.00 520.00 500.00 $ 20.00 Complete this question by entering your answers in the tabs below.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
