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ABC Company Income Statement For Year Ended 12/31/2018 $ 6,834,400 5,728,000 1,106,400 Sales Cost of Goods Sold Gross Profit Operating Expenses Wages Supplies Advertising Depreciation
ABC Company Income Statement For Year Ended 12/31/2018 $ 6,834,400 5,728,000 1,106,400 Sales Cost of Goods Sold Gross Profit Operating Expenses Wages Supplies Advertising Depreciation Total Operating Expenses 520,000 20,000 140,000 86,250 766,250 Operating Profit 340,150 Other Income Interest Income Gain from sale of investment Total Other Income 2,000 2,200 4,200 Other Expenses Interest Expense Loss on Sale Total Other Expenses 176,000 5,000 181,000 EBT Taxes Net Income 163,350 65,340 98,010 $ No purchase of investments was made during the year. Investments with a cost of $7,000 were sold for $9,200. Land with a cost of $80,000 and buildings for $130,000 were acquired. During the year, the company disposed of equipment that had an original cost $55,000 and accumulated depreciation of $48,500. The equipment was sold for $1,500. The company also purchased equipment for $200,000 Answer the following: 1) Prepare a cash flow statement using the indirect method for 2018 2) Calculate FCFF and FCFE
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