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Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Statement of Cash FlowsIndirect Method Operating activities:
Apex Company prepared the statement of cash flows for the current year that is shown below:
Apex Company Statement of Cash FlowsIndirect Method | ||
---|---|---|
Operating activities: | ||
Net income | $ 40,900 | |
Adjustments to convert net income to cash basis: | ||
Depreciation | $ 21,300 | |
Increase in accounts receivable | (60,100) | |
Increase in inventory | (26,700) | |
Decrease in prepaid expenses | 10,300 | |
Increase in accounts payable | 54,100 | |
Decrease in accrued liabilities | (11,700) | |
Increase in income taxes payable | 4,400 | (8,400) |
Net cash provided by (used in) operating activities | 32,500 | |
Investing activities: | ||
Proceeds from the sale of equipment | 14,100 | |
Loan to Thomas Company | (41,900) | |
Additions to plant and equipment | (121,100) | |
Net cash provided by (used in) investing activities | (148,900) | |
Financing activities: | ||
Increase in bonds payable | 89,300 | |
Increase in common stock | 39,300 | |
Cash dividends | (29,700) | |
Net cash provided by (used in) financing activities | 98,900 | |
Net decrease in cash and cash equivalents | (17,500) | |
Beginning cash and cash equivalents | 28,700 | |
Ending cash and cash equivalents | $ 11,200 |
Required:
Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)
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