Compute Free Cash flow and current cash debt ratio

Problem 5-7 (Part Level Submission) Tamarisk Inc. had the following balance sheet at December 31, 2016. TAMARISK INC. BALANCE SHEET DECEMBER 31, 2016 $35,480 46,480 105,480 28,680 $216,120 Cash 25,480 Accounts payable 26,680 Bonds payable 32,000 Common stock 86,480 Retained earnings 45,480 Accounts reccivable Plant assets (net) Land $216,120 During 2017, the following occurred. 1. Tamarisk liquidated its available-for-sale investment portfolio at a loss of $10,480. 2. A tract of land was purchased for $43,430. 3. An additional $30,000 in common stock was issued at por 4. Dividends totaling $15,430 were declared and paid to stockholders. 5. Net income for 2017 was $40,480, including $17,480 in depreciation expense. 6. Land was purchased through the issuance of $35,480 in additional bonds. At December 31, 2017, cash was $75,680. Accounts Receivable was47,480, and Accounts Payable was $45,480. Prepare a statement of cash flows for the year 2017 for Tamarisk. (Show amounts that decrease cash flow with either a sign e.g.-15,000 or in parenthesis e.g. (15,000).) TAMARISK INC. Statement of Cash Flows Adjustments to reconole net income to