Data for the Frank B. Robinson Company are presented in PI2-5B. Further analysis reveals the following. 1.

Question:

Data for the Frank B. Robinson Company are presented in PI2-5B. Further analysis reveals the following.

1. Accounts payable pertain to merchandise suppliers.

2. All operating expenses except for depreciation were paid in cash.

Instructions

(a) Prepare a statement of cash flows for Frank B. Robinson Company using the direct method.

(b) Compute the following cash-basis ratios.
( 1 ) Current cash debt coverage ratio.
(2) Cash return on sales ratio.
(3) Cash debt coverage ratio.
(4) Free cash flow.

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