Metlock Inc. engaged in the following cash transactions during 2017.Purchase of land$122,000Purchase of treasury stock58,000Issuance of preferred stock191,000Sale of land and buildings289,000Payment of cash dividends20,000Purchase of equipment69,000Retirement of bonds310,000Metlock reported net cash provided by operating activities of $609,000. Determine Metlock's free cash flow. (Show amounts thatdecrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)Free cash flow$

Free Cash Flow: It is cash generated by the business from its outflow and this helps in managing the…

Answered: Metlock Inc. engaged in the following…

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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Metlock Inc. engaged in the following cash transactions during 2017. Purchase of land $122,000 Purchase of treasury stock 58,000 Issuance of preferred stock 191,000 Sale of land and buildings 289,000 Payment of cash dividends 20,000 Purchase of equipment 69,000 Retirement of bonds 310,000