50.1K

Verified Solution

Link Copied!

?

value: 2.00 points Comparative financial statement data for Carmono Company follow Assets Cash Accounts receivable Inventory S 4.50 $ 8.00 38.00 31.00 77.50 6360 Total current assets 120.00 102.60 Property, plant, and equipment 213.00182.00 40.8030.60 Less accumulated depreciation Net property, plant, and equipment 172.20 151.40 Total assets $ 292.20 $254.00 Liabilities and Stockholders' Equity Accounts payable Common stock Retained e S 4650 $ 40.00 94.00 73.00 151.70141.00 gs Total liabilities and stockholders equity s 292.20 $ 254.00 For this year, the company reported net income as follows: $550.00 330.00 Cost of goods sold 220.00 200.00 Gross margin Net income s 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 Required: 1. sing 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 decinal piaces Carmono Company Statement of Cash Flows- Indirect Method For This Year Ended December 31 Operating activities Adjustments to convert net income to a cash basis 1. sing the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash of Cash F Operating a cash and cash equival Beginning cash and cash equivalents Ending cash and cash equivalents 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.) Hints Refe rences eBook & Resources

Answer & Explanation Solved by verified expert

See Answer