Compute free cash flow. The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance
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The following are the financial statements of Nosker Company.
NOSKER COMPANY | ||||||
Assets | 2017 | 2016 | ||||
Cash | $ 37,100 | $ 20,100 | ||||
Accounts receivable | 32,900 | 19,500 | ||||
Inventory | 29,900 | 20,900 | ||||
Equipment | 59,700 | 77,500 | ||||
Accumulated depreciation—equipment | (29,100 | ) | (23,400 | ) | ||
Total | $130,500 | $114,600 | ||||
Liabilities and Stockholders’ Equity | ||||||
Accounts payable | $ 28,300 | $ 17,000 | ||||
Income taxes payable | 7,000 | 8,400 | ||||
Bonds payable | 27,300 | 33,600 | ||||
Common stock | 17,200 | 14,600 | ||||
Retained earnings | 50,700 | 41,000 | ||||
Total | $130,500 | $114,600 |
NOSKER COMPANY | ||
Sales revenue | $241,100 | |
Cost of goods sold | 176,400 | |
Gross profit | 64,700 | |
Operating expenses | 23,400 | |
Income from operations | 41,300 | |
Interest expense | 3,600 | |
Income before income taxes | 37,700 | |
Income tax expense | 8,600 | |
Net income | $ 29,100 |
Additional data:
1. | Dividends declared and paid were $19,400. | |
2. | During the year equipment was sold for $9,800 cash. This equipment cost $17,800 originally and had a book value of $8,000 at the time of sale. | |
3. | All depreciation expense, $13,700, is in the operating expenses. | |
4. | All sales and purchases are on account. |
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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