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LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: Decrease in accounts payable Decrease in income tax payable Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities SA $ 17 (14) (1) 7✓ 10 (6) (20) 2 (5)

LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: Decrease in accounts payable Decrease in income tax payable Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities SA $ 17 (14) (1) 7✓ 10 (6) (20) 2 (5)

FINANCIAL ACCOUNTING
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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Calculate the free Cash Flow ratio

LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: Decrease in accounts payable Decrease in income tax payable Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities 17 (14) (1) 7 10 (6) (20) 2 (5)
Transcribed Image Text:LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: Decrease in accounts payable Decrease in income tax payable Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities 17 (14) (1) 7 10 (6) (20) 2 (5)
LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from investing activities: Purchase of equipment Sale of equipment Sale of long-term investment Net cash flow from investing activities $ $ (35) 21 48 34
Transcribed Image Text:LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from investing activities: Purchase of equipment Sale of equipment Sale of long-term investment Net cash flow from investing activities $ $ (35) 21 48 34
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