Please do not give solution in image format thanku Comparative financial statement data for Carmono Company follow:AssetsCashAccounts receivable.InventoryTotal current assetsProperty, plant, and equipmentLess accumulated depreciationNet property, plant, and equipmentTotal assetsLiabilities and Stockholders' EquityAccounts payableCommon stockRetained earnings.Total liabilities and stockholders' equityFor this year, the company reported net Income as follows:SalesCost of goods soldGross marginSelling and administrative expensesNet income$1,750.001,050.00700.00680.00$20.00Operating activities:Investing activitiesRequired:1. Using the indirect method, prepare a statement of cash flows for this year.2. Compute Carmono's free cash flow for this year.Financing activities:This YearComplete this question by entering your answers in the tabs below.$16.5086.00137.58Carmono CompanyStatement of Cash FlowsFor This Year Ended December 31Beginning cash and cash equivalentsEnding cash and cash equivalents240.00285.0060.00225.00$ 465.00This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. Thecompany did not repurchase any of its own stock this year.$ 82.50190.00192.50$ 465.00< Required 1Required 1 Required 2Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows asnegative amounts. Round your intermediate calculations and final answers to 2 decimal places.)Last Year$32.0079.00126.00237.00230.0045.00185.00$ 422.00$ 64.00145.00213.00$422.08Required 2 >

The cash flows statement is the one which is prepared by the entity to report the cash inflows and…

Comparative financial statement data for Carmono Company follow: Assets Cashi 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 For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income $ 1,750.00 1,050.00 700.00 680.00 $ 20.00 This Year $16.50 86.00 137.50 240.00 285.00 60.00 225.00 $ 465.00 $ 82.50 190.00 192.50 $ 465.00 Last 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. $ 32.00 79.00 126.00 237.00 230.00 45.00 185.00 $ 422.00 $. 64.00 145.00 213.00 $ 422.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. company did not repurchase any of its own stock this year.

Comparative financial statement data for Carmono Company follow: Assets Cashi 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 For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income $ 1,750.00 1,050.00 700.00 680.00 $ 20.00 This Year $16.50 86.00 137.50 240.00 285.00 60.00 225.00 $ 465.00 $ 82.50 190.00 192.50 $ 465.00 Last 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. $ 32.00 79.00 126.00 237.00 230.00 45.00 185.00 $ 422.00 $. 64.00 145.00 213.00 $ 422.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. company did not repurchase any of its own stock this year.

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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