Apex Company prepared the statement of cash flows for the current year that is shown below:Apex CompanyStatement of Cash Flows-Indirect MethodOperating activities:Net incomeAdjustments to convert net income to cash basis:DepreciationIncrease in accounts receivableIncrease in inventoryDecrease in prepaid expensesIncrease in accounts payableDecrease in accrued liabilitiesIncrease in income taxes payableNet cash provided by (used in) operating activitiesInvesting activities:Proceeds from the sale of equipmentLoan to Thomas CompanyAdditions to plant and equipmentNet cash provided by (used in) investing activitiesFinancing activities:Increase in bonds payable.Increase in common stockCash dividendsNet cash provided by (used in) financing activitiesNet decrease in cash and cash equivalentsBeginning cash and cash equivalentsEnding cash and cash equivalents$ 21,100(60,900)(26,400)10,90053,400(11,400)4,50014,100(41,500)(120,300)89,60039,300(28,200)$ 40,600(8,800)31,800(147,700)100,700(15,200)28,500$ 13,300Required:Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.)Free cash flow

Answered: Apex Company prepared the statement of…

Apex Company prepared the statement of cash flows for the current year that is shown below. Apex Company Statement of Cash Flows-Indirect Method Operating activities: Net income 40.600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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