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This Year Last Year Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 8.00 52.00 95.00 155.00 234.00 46.40 187.60 $ 342.60 $15.00 45.00 81.80 141.80 196.00 34.80 161.20 $ 303.00 $57.00 122.00 163.60 $342.60 $ 47.00 94.00 162.00 $ 303.00 For this year, the company reported net income as follows. Sales Cost of goods sola Gross margin selling and administrative expenses Net income $ 900.00 540.00 360.00 340.00 $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. T company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows for this year, 2. Compute Carmono's free cash flow for this year Complete this question by entering your answers in the tabs below. Required 1 Required 2 ces Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Camono Company Statement of Cash Flows For This Year Ended December 31 Operating activities Net Income $ 20 00 Adjustments to convert net income to a cash basis Depreciation $ 11 60 TOTUS Tenninger Uecember $ 20.00 Operating activities: Net income Adjustments to convert net income to a cash basis: Depreciation Increase in accounts receivable Increase in inventory Increase in accounts payable Decrease in accounts payable Net cash provided by operating activities Investing activities: Increase in plant and equipment 11.60 (7.00) (1320) 10.00 1.40 21.40 (38.00) (38.00) Net cash used in investing activities Financing activities: Issuance of common stock Cash dividends 28.00 (18.40) Net cash used in financing activities Net decrease in cash 9.60 (7.00) 15 on Roninninn each and each annivalanta nau Naut $ 11.60 (7.00) (13.20) 10.00 Depreciation Increase in accounts receivable Increase in inventory Increase in accounts payable Decrease in accounts payable Net cash provided by operating activities Investing activities: Increase in plant and equipment 1.40 21.40 (38.00) (38.00) Net cash used in investing activities Financing activities Issuance of common stock Cash dividends 28.00 (18.40) 9.60 Net cash used in financing activities Net decrease in cash Beginning cash and cash equivalents Ending cash and cash equivalents (7.00) 45.00 38.00 $ RE Required 2 > Required: 1. Using the indirect method, prepare a statement of cash flows for this year 2. Compute Carmono's free cash flow for this year Complete this question by entering your answers in the tabs below. Required: Required 2 Compute Carmono's free cash flow for this year. (Negative amount should be indicated by a minus sign. Round your Intermediate calculations and final answer to 2 decimal places.) Free cash flow $ 7340