also equip 15.000 repaid Prepare flows an flow (L02.3 se the Cash Accounts receivable Land Buildings 2017, 2 was FIN Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2 2017 2016 $ 14,300 $10,700 21,200 23,400 20,000 26,000 70,000 70,000 Accumulated depreciation--buildings (15,000) (10,000) 0000 $110,500 $120,100 000.00 Accounts payable $ 12,370 $ 31.100 75,000 69,000 Common stock 00012 23,130 20,000 Retained earnings Total $110,500 $120,104 On be Additional information: 1. Net income was $22,630. Dividends declared and paid were $19,500 2. No noncash investing and financing activities occurred during 2017 3 The land was sold for cash of $4.900 Total Instructions fa ) Prepare a statement of cash flows for 2017 using the indirect method. JOS (6) Compute free cash flow Assignment: 2 Marks: 5 Assignment type: Individual (handwritten) Submission deadline: (to be announced later) Answer all the questions. Instructions for the assignment: You should solve the assignment on your script, take an image of the answers, convert it into pdf and upload the pdf file on google form. You must prepare a front page mentioning your name, ID, Course Code, Section; faculty particulars etc at hand and keep it on the top while taking images of your answers. You may use 'camscanner' apps to take an image. File size: Maximum 10 MB. Credit $ 2,200 Question: 1 On December 1, 2020, Company had the following account balances. Debit Cash $ 7.200 Accumulated Depreciation- Equipment Accounts receivable 4,600 Accounts Payable Inventory 12,000 Salaries and Wages Payable Supplies 1,200 Owner's Capital Equipment 22.000 $47.000 4,500 1,000 39,300 $47.000 During December, the company completed the following summary transactions. December 5 Purchased golf bags, clubs, and balls on account from Tiger Co. $1,200, FOB shipping point, terms 2/10,n/60. Appropriate party paid freight on purchases $50. December 9 Received credit from Tiger Co. for merchandise returned $100. December 10 Sold merchandise on account to John traders $600, FOB shipping point, terms 2/15, n/30. The cost of goods sold is $400. Appropriate party paid freight cost $20. December 12 Purchased golf shoes, sweaters, and other accessories on account from Classic Sportswear S450, FOB destination, terms 3/10, 1/30. Appropriate party paid freight on purchases $50. December 16 Paid Tiger Co. in full