Here are comparative balance sheet for Migitsu Company. Prepare statement of cash flow - indirect method and compiute the free cash flow for

2017.

Here are comparative balance sheets for Migitsu Company. Prepare a 15 points statement of cash flows-indirect method and compute the free cash flow for 2017. * MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 Cash $ 73,000 $ 22,000 Accounts receivable 87,000 76,000 Inventory 170,000 191,000 Land 72,000 100.000 Equipment 260,000 200,000 Accumulated depreciation - equipment (66,000) (32,000) Total $596 000 $557.000 Liabilities and Stockholders' Equity Accounts payable $ 37.000 $ 47,000 Bonds payable 150.000 210,000 Common stock ($1 par) 216.000 174,000 Retained earnings 193 000 126,000 Total $596.000 $557.000 Additional information. 1. Net income for 2017 was $100,000. 2. Cash dividends of $33,000 were declared and paid. 3. Bonds payable amounting to $60,000 were redeemed for cash $60,000. 4. Common stock was issued for $42,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $36,000 during 2017; land was sold at cost. t Add File Back Submit