Exercise 12-8 (Part Level Submission) Oriole Company's comparative balance sheets are presented below. Oriole Company Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2019 $ 15,000 21,300 20,400 70,100 (15,000) $111,800 $ 12,400 74,000 25,400 $111,800 2018 $ 10,000 23,400 25,700 70,100 (10,900) $118,300 $ 27,600 73,400 17,300 $118,300 Additional information: 1. Net income was $23,100. Dividends declared and paid were $15,000. 2. No noncash investing and financing activities occurred during 2019. 3. The land was sold for cash of $5,000.
Exercise 12-8 (Part Level Submission) Oriole Company's comparative balance sheets are presented below. Oriole Company Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2019 $ 15,000 21,300 20,400 70,100 (15,000) $111,800 $ 12,400 74,000 25,400 $111,800 2018 $ 10,000 23,400 25,700 70,100 (10,900) $118,300 $ 27,600 73,400 17,300 $118,300 Additional information: 1. Net income was $23,100. Dividends declared and paid were $15,000. 2. No noncash investing and financing activities occurred during 2019. 3. The land was sold for cash of $5,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 12-8 (Part Level Submission)
Oriole Company's comparative balance sheets are presented below.
Oriole Company
Comparative Balance Sheets
December 31
Cash
Accounts receivable
Land
Buildings
Accumulated depreciation-buildings
Total
Accounts payable
Common stock
Retained earnings
Total
2019
$ 15,000
21,300
20,400
70,100
(15,000)
$111,800
$ 12,400
74,000
25,400
$111,800
2018
$ 10,000
23,400
25,700
70,100
(10,900)
$118,300
$ 27,600
73,400
17,300
$118,300
Additional information:
1. Net income was $23,100. Dividends declared and paid were $15,000.
2. No noncash investing and financing activities occurred during 2019.
3. The land was sold for cash of $5,000.
Transcribed Image Text:Compute free cash flow. (Enter negative
amount using either a negative sign
preceding the number e.g. -45 or
parentheses e.g. (45).)
Free cash flow
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