Students Home Connect 16 Seved Exercise 14-6 Prepare a Statement of Cash Flows; Free Cash Flow (LO14-1, LO1 Comparative financial statement data for Carmono Company follow: 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 $ 17.00 88.00 140.00 245.00 288.00 60.80 227.20 $472.20 $ 33.00 81.00 128.60 242.60 232.00 45.60 186.40 $429.00 $ 84.00 194.00 194.20 $472.20 $ 65.00 148.00 216.00 $429.00 For this year, the company reported net income as follows: Sales $1,800.00 Cost of goods sold 1,080.00 Gross margin 720.00 Selling and administrative expenses 700.00 Net income $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipm 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. Students Home Connect Saved Required 1 Required 2 Using the indirect method, prepare a statement of cash flows for this year. (List any dedu negative amounts. Round your intermediate calculations and final answers to 2 decimal pl Carmono Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents Required 2 > Prev 5 of 12 Ne Sales $1,800.00 Cost of goods sold 1,080.00 Gross margin 720.00 Selling and administrative expenses 700.00 Net income $ 20.00 This year Carmono declared and paid a cash dividend. There w company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows f 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tab Required 1 Required 2 Compute Carmono's free cash flow for this year. (Negative amounts intermediate calculations and final answer to 2 decimal places.) Free cash flow