Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings 2017 $14,300 2016 $10,700 21,200 23,400 20,000 26,000 70,000 70,000 Accumulated depreciation -- buildings (15,000) (10,000) Total Accounts payable Common stock Retained earnings Total $110,500 $120,100 $12,370 $31,100 75,000 69,000 23,130 20,000 $110,500 $120,100 Additional information: Net income was $22,630. Dividends declared and paid were $19,500. No noncash investing and financing activities occurred during 2017. The land was sold for cash of $4,900. Instructions: Prepare a statement of cash flows for 2017 using the indirect method. Compute free cash flow.

Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings 2017 $14,300 2016 $10,700 21,200 23,400 20,000 26,000 70,000 70,000 Accumulated depreciation -- buildings (15,000) (10,000) Total Accounts payable Common stock Retained earnings Total $110,500 $120,100 $12,370 $31,100 75,000 69,000 23,130 20,000 $110,500 $120,100 Additional information: Net income was $22,630. Dividends declared and paid were $19,500. No noncash investing and financing activities occurred during 2017. The land was sold for cash of $4,900. Instructions: Prepare a statement of cash flows for 2017 using the indirect method. Compute free cash flow.

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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