Comparative financial statement data for Carmono Company follow: 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 This Last Year Year $ 3 $ $ $ 22 50 75 240 65 175 250 40 150 60 250 $ $ $ $ 6 24 40 70 200 50 150 220 36 145 39 250
Comparative financial statement data for Carmono Company follow: 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 This Last Year Year $ 3 $ $ $ 22 50 75 240 65 175 250 40 150 60 250 $ $ $ $ 6 24 40 70 200 50 150 220 36 145 39 250
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Comparative financial statement data for Carmono Company follow:
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
Sales
Cost of goods sold
Gross margin
Selling and administrative
expenses
This Last
Year Year
Net income
$ 275
150
125
90
$ 3
$ 35
$
$
$
22
50
75
240
65
175
250
For this year, the company reported net income as follows:
40
150
60
250
$
$
$
6
24
40
70
200
50
150
220
36
145
39
250
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.
Compute Carmono's free cash flow for this year.
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