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 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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