Lott Corporation reported cash provided by operating activities of $360,000, cash used by investing activities of $250,000, and cash provided by financing activities of $70,000. In addition, cash spent for capital assets during the period was $200,000.

Brief Exercises 623 Identify financing activity transactions.

(SO 2)

Answer questions related to the phases of product life cycle.

(SO 3)

CEES Compute cash provided by operating activities—indirect method.

(SO 4)

Compute cash provided by operating activities—indirect method.

(SO 4)

Compute net cash provided by operating activities—

indirect method.

(SO 4)

Determine cash received from sale of equipment.

(SO 4)

Calculate cash-based ratios.

(SO 5)

Calculate cash-based ratios.

(sOS 624 CHAPTER 12 Calculate cash-based ratios.

(SO 5)

COOTSPT Calculate and analyze free cash flow.

(SO 5)

ad Compute receipts from customers—direct method.

(SO 6)

Compute cash payments for income taxes—direct method.

(SO 6)

Compute cash payments for operating expenses—direct method.

(SO 6)

Classify transactions by type of activity.

(SO 2)

Classify transactions by type of activity.

(SO 2)

Statement of Cash Flows Average current liabilities were $150,000, and average total liabilities were $225,000. No dividends were paid. Calculate these values:

(a) Free cash flow.

(b) Current cash debt coverage ratio.

(c) Cash debt coverage ratio.