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Compute free cash flow. (Show amounts that decrease free cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free cash flow $

Compute free cash flow. (Show amounts that decrease free cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free cash flow $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Compute free cash flow. (Show amounts that decrease free cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free cash flow $
Transcribed Image Text:Compute free cash flow. (Show amounts that decrease free cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free cash flow $
Presented here are the financial statements of Blossom Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross profit Selling expenses Blossom Company Comparative Balance Sheets December 31 Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data: 1. 3. 4. 5. $ 52,500 2025 30,000 Blossom Company Income Statement For the Year Ended December 31, 2025 42,000 (48,000) $166,500 $27,000 90,000 $ 28,500 9,000 10,500 25,500 $166,500 27,000 75,000 $ 30,000 $363,000 262,500 (36,000) $162,000 100,500 $ 22,500 36,000 64,500 4,500 2024 60,000 Bonds were redeemed at their carrying value. Common stock was issued at par for cash. 12,000 21,000 $162,000 $ 48,000 30,000 117,000 12,000 Depreciation expense was $26,250. 2. Dividends declared and paid were $30,000. During the year, equipment was sold for $12,750 cash. This equipment originally cost $27,000 and had accumulated depreciation of $14,250 at the time of sale. 49,500 21,000 57,000
Transcribed Image Text:Presented here are the financial statements of Blossom Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross profit Selling expenses Blossom Company Comparative Balance Sheets December 31 Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data: 1. 3. 4. 5. $ 52,500 2025 30,000 Blossom Company Income Statement For the Year Ended December 31, 2025 42,000 (48,000) $166,500 $27,000 90,000 $ 28,500 9,000 10,500 25,500 $166,500 27,000 75,000 $ 30,000 $363,000 262,500 (36,000) $162,000 100,500 $ 22,500 36,000 64,500 4,500 2024 60,000 Bonds were redeemed at their carrying value. Common stock was issued at par for cash. 12,000 21,000 $162,000 $ 48,000 30,000 117,000 12,000 Depreciation expense was $26,250. 2. Dividends declared and paid were $30,000. During the year, equipment was sold for $12,750 cash. This equipment originally cost $27,000 and had accumulated depreciation of $14,250 at the time of sale. 49,500 21,000 57,000
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