Question: Needing answer for part b, thank you! Presented here are the financial staternents of Novak Comparry. 1. Depreclation expense was $14,900. 2. Dividends declared and



Presented here are the financial staternents of Novak Comparry. 1. Depreclation expense was $14,900. 2. Dividends declared and paid were $24.140. 3. During the year equlpment was sold for $9,800cash. This equipment cost $18,300 originally and had accumulated depreciation of $8.500 at the time of sale. Further analysis reveals the following 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the seliling expense category. 4. All sales and purchases are on account. Prepare a statement of cash flows for Novak Company using the direct method. (Show amounts that decrease cash flow with either a - si) Cash Flows from Operating Activities Casth Receipts from Customers Less: cashpayments: To Suppliers For Operating Expenses Forinterest For income Taves Net Cash Prowided by Operating Activities * Cish Flows from Investing Activities Sale of Equipment Cash Flows from Financing Activities Redemption of Bonds Issuance of Common Stock Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. Free cash flow $
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