2-6A. (Meaml'ing cash flows) Calculate the free cash flows for T P Jannon Company for the year

.. ended December 31, 2003, both from an asset and a financing perspective. Interpret your results.

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T. P. Jarmon Company Balance Sheets at 12/31/02 and 12/31/03 ASSETS 2002 Cash Marketable securities Accounts receivable Inventory Prepaid rent $ 15,000 6,000 Total current assets Net plant and equipment Total assets 2003 $ 14,000 6,200 42,000 33,000 51,000 84,000 1,200 1,100 $115,200 $138,300 286,000 270,000 $401,200 $408,300 Accounts payable Notes payable Total current liabilities Accruals Long-term debt Common stockholders' equity Total liabilities and equity LIABILITIES AND EQUITY 2002 $ 48,000 15,000 6,000 $ 69,000 $160,000 $172,200 $401,200 2003 $ 57,000 13,000 5,000 $ 75,000 $150,000 $183,300 $408,300