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Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below.

Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below.

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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Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Operating activities: Investing activities: Financing activities: Carmono Company Statement of Cash Flows For This Year Ended December 31 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0.00 0.00 0.00 0.00 0,00 0.00
Transcribed Image Text:Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Operating activities: Investing activities: Financing activities: Carmono Company Statement of Cash Flows For This Year Ended December 31 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0.00 0.00 0.00 0.00 0,00 0.00
Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders equity For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income This Year $ 16.00 84.00 135.00 235.00 282.00 59.20 222.80 $ 457.80 Required 1 $81.00 186.00 190.80 $ 457.80 Required 2 $1,700.00 1,020.00 680.00 660.00 $20.00 Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Last Year $31.00 77.00 123.40 231.40 228.00 44.40 183.60 $ 415.00 $ 63.00 142.00 210.00 $ 415.00
Transcribed Image Text:Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders equity For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income This Year $ 16.00 84.00 135.00 235.00 282.00 59.20 222.80 $ 457.80 Required 1 $81.00 186.00 190.80 $ 457.80 Required 2 $1,700.00 1,020.00 680.00 660.00 $20.00 Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Last Year $31.00 77.00 123.40 231.40 228.00 44.40 183.60 $ 415.00 $ 63.00 142.00 210.00 $ 415.00
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