Question: Comparative financial statement data for Carmono Company follow. This Year Last Year Assets Cash $ 11 00 $ 21_00 Accounts receivable 64.00 57.00 Inventory 110.00

 Comparative financial statement data for Carmono Company follow. This Year Last

Comparative financial statement data for Carmono Company follow. This Year Last Year Assets Cash $ 11 00 $ 21_00 Accounts receivable 64.00 57.00 Inventory 110.00 97-40 Total current assets 185 00 175_40 Property, plant, and equipment 252.00 208 _00 Less accumulated depreciation 51_20 38 . 40 Net property, plant, and equipment 200-80 169 60 Total assets $385. 80 $345_00 Liabilities and Stockholders' Equity Accounts payable $ 66_00 $ 53_00 Common stock 146.00 112_00 Retained earnings 173- 80 180 _00 Total liabilities and stockholders' equity $285_80 $345.00 For this year, the company reported net Income as follows: Sales $1, 200.00 Cost of goods sold 720 00 Gross margin 480-00 Selling and administrative expenses 460_00 Net income $ 20.00 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. 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

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