Comparative financial statement data for Carmono Company follow: This Year Last Year Assets $6.00 44.00 $ 11.00 37.00 71.40 119.40 Cash Accounts receivable 85.00 135.00 222.00 Inventory Total current asseta Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipnent 188.00 32.40 43.20 178.80 $ 313.80 155.60 $ 275.00 Total assets Liabilities and Stockholders Equity Accounts payable $ 51.00 106.00 $ 43.00 82.00 150.00 Common stock Retained earnings Total liabilities and stockholders equity 156.80 $ 313.80 $ 275.00 For this year, the company reported net income as follows: $ 700.00 420.00 Sales Cost of goods sold 280.00 Gross margin 260.00 Selling and administrative expenses $ 20.00 Net income 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. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. Required 1 Required 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.) ree cash flow
Comparative financial statement data for Carmono Company follow: This Year Last Year Assets $6.00 44.00 $ 11.00 37.00 71.40 119.40 Cash Accounts receivable 85.00 135.00 222.00 Inventory Total current asseta Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipnent 188.00 32.40 43.20 178.80 $ 313.80 155.60 $ 275.00 Total assets Liabilities and Stockholders Equity Accounts payable $ 51.00 106.00 $ 43.00 82.00 150.00 Common stock Retained earnings Total liabilities and stockholders equity 156.80 $ 313.80 $ 275.00 For this year, the company reported net income as follows: $ 700.00 420.00 Sales Cost of goods sold 280.00 Gross margin 260.00 Selling and administrative expenses $ 20.00 Net income 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. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. Required 1 Required 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.) ree cash flow
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer required 1,2
Transcribed Image Text:Comparative financial statement data for Carmono Company follow:
Thin Year
Last Year
Asseta
$ 11.00
37.00
71.40
119,40
188.00
Cash
Accounts receivable
Inventory
$6.00
44.00
85.00
Total current asseta
Property, plant, and equipment
Less accumulated depreciation
Net property, plant, and equipnent
135.00
222.00
43.20
178.80
$ 313.80
32.40
155.60
$ 275.00
Total aBsete
Liabilities and Stockholders Equity
Accounta payable
$ 51.00
106.00
$43.00
82.00
150.00
Common stock
Retained earnings
Total liabilities and stockholders equity
156.80
$ 313.80
$275.00
For this year, the company reported net income as follows:
$700.00
Sales
420.00
Cost of goods sold
Grosa margin
Selling and administrative expenses
280.00
260.00
$ 20.00
Net income
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. Using the indirect method, prepare a statement of cash flows for this year,
2. Compute Carmono's free cash flow for this year.
Complete this question by entering your answers in the tabs below.
Required 1
Required
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.)
Free cash flow
Required 1
Required 2 >
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