shj.3 The following is a condensed version of the comparative balance sheets for Sheridan Corporation for the last two years at December31.CashAccounts receivableInvestmentsEquipmentAccumulated Depreciation-EquipmentCurrent liabilitiesCommon stockRetained earningsAdditional information:2020Free cash flow$309,750$315,00091,000521,500(185,500 )234,500280,000537,250Determine Sheridan Corporation's free cash flow.2019$ 136,500323,750129,500420,000(155,750 )264,250Investments were sold at a loss of $17,500; no equipment was sold; cash dividends paid were $52,500; and net income was $280,000.280,000309,750

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Determine Sheridan Corporation's free cash flow. tA Free cash flow $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

shj.3

The following is a condensed version of the comparative balance sheets for Sheridan Corporation for the last two years at December
31.
Cash
Accounts receivable
Investments
Equipment
Accumulated Depreciation-Equipment
Current liabilities
Common stock
Retained earnings
Additional information:
2020
Free cash flow
$309,750
$
315,000
91,000
521,500
(185,500 )
234,500
280,000
537,250
Determine Sheridan Corporation's free cash flow.
2019
$ 136,500
323,750
129,500
420,000
(155,750 )
264,250
Investments were sold at a loss of $17,500; no equipment was sold; cash dividends paid were $52,500; and net income was $280,000.
280,000
309,750

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