Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Marigold Corp. Comparative Balance Sheets December 31 Accounts...

Transcribed Image Text:

Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Marigold Corp. Comparative Balance Sheets December 31 Accounts payable Common stock Retained earnings Total Additional information: 1. 2. 3. 2022 $ 14,600 20,700 20,100 69,500 (15,000) $109,900 $ 12,800 74,200 22,900 $109,900 2021 $ 10,200 23,100 25,700 69,500 (10,900) $117,600 $ 30,600 68,100 18,900 $117,600 Net income was $22,600. Dividends declared and paid were $18,600. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,700. Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Marigold Corp. Statement of Cash Flows - Indirect Method For the Year Ended December 31, 2022 Net Cash Provided by Operating Activities Depreciation Expense Sale of Land Decrease in Accounts Receivable Decrease in Accounts Payable Cash Flows from Operating Activities Cash Flows from Financing Activities Payment of Dividends $ LA 4100 900 2400 -14800 -18600 LA 22600 15200 (b) Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) LA Free cash flow $ Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Marigold Corp. Comparative Balance Sheets December 31 Accounts payable Common stock Retained earnings Total Additional information: 1. 2. 3. 2022 $ 14,600 20,700 20,100 69,500 (15,000) $109,900 $ 12,800 74,200 22,900 $109,900 2021 $ 10,200 23,100 25,700 69,500 (10,900) $117,600 $ 30,600 68,100 18,900 $117,600 Net income was $22,600. Dividends declared and paid were $18,600. No noncash investing and financing activities occurred during 2022. The land was sold for cash of $4,700. Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Marigold Corp. Statement of Cash Flows - Indirect Method For the Year Ended December 31, 2022 Net Cash Provided by Operating Activities Depreciation Expense Sale of Land Decrease in Accounts Receivable Decrease in Accounts Payable Cash Flows from Operating Activities Cash Flows from Financing Activities Payment of Dividends $ LA 4100 900 2400 -14800 -18600 LA 22600 15200 (b) Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) LA Free cash flow $

Answer rating: 100% (QA)

It looks like you are trying to prepare a Statement of Cash Flows using the indirect method and subsequently compute free cash flow for Marigold Corp ... View the full answer