Declared and paid a $$40,000$ cash dividend. d$.$ Compute its operating cash flow to current liabilities ratio $($OCFCL$),$ operating cash flow to capital expenditures ratio $($OCFCX$),$ and free cash flow $($FCF$),$

Please answer all parts of the question. Question $6$ Incomplete answer Marked out of $16\mathrm{.}67$

Preparing a Statement of Cash Flows $($Indirect Method$)$

Rainbow Company's income statement and comparative balance sheets follow.

During Year $8,$ the following transactions and events occurred:

Sold long$-$term investments costing $$45,600$ for $$48,000$ cash.

Purchased land for cash.

Capitalized an expenditure made to improve the building.

Sold equipment for $$11,200$ cash that originally cost $$36,800$ and had $$21,600$ accumulated depreciation.

Issued bonds payable at face value for cash.

Acquired a patent with a fair value of $$20,000$ by issuing $200$ shares of preferred stock at par value.

$8.$ Issued $2,400$ shares of common stock for cash at $$8\mathrm{.}00$ per share.

Recorded depreciation of $$12,800$ on buildings and $$18,400$ on equipment.

REQUIRED

a$.$ Compute the change in cash and cash equivalents that occurred during Year $8.$

Note: Use a negative sign with your answer to indicate a decrease in cash and cash equivalents, if applicable.

b$.$ Prepare a Year $8$ statement of cash flows using the indirect method.

Note: Use a negative sign with your answer to indicate cash used$/$decrease in cash, if applicable.

c$.$ Prepare separate schedules showing $(1)$ cash paid for interest and for income taxes and $(2)$ noncash investing and financing transactions.

Note: Use a negative sign with your answer to indicate amount is subtracted, if applicable.

Noncash investing and financing transactions