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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 | $ | 41,400 | ||||
Adjustments to convert net income to cash basis: | ||||||
Depreciation | $ | 21,400 | ||||
Increase in accounts receivable | (61,700) | |||||
Increase in inventory | (26,400) | |||||
Decrease in prepaid expenses | 10,700 | |||||
Increase in accounts payable | 53,900 | |||||
Decrease in accrued liabilities | (11,300) | |||||
Increase in income taxes payable | 5,000 | (8,400) | ||||
Net cash provided by (used in) operating activities | 33,000 | |||||
Investing activities: | ||||||
Proceeds from the sale of equipment | 15,400 | |||||
Loan to Thomas Company | (41,000) | |||||
Additions to plant and equipment | (121,600) | |||||
Net cash provided by (used in) investing activities | (147,200) | |||||
Financing activities: | ||||||
Increase in bonds payable | 89,500 | |||||
Increase in common stock | 39,700 | |||||
Cash dividends | (29,500) | |||||
Net cash provided by (used in) financing activities | 99,700 | |||||
Net decrease in cash and cash equivalents | (14,500) | |||||
Beginning cash and cash equivalents | 28,600 | |||||
Ending cash and cash equivalents | $ | 14,100 | ||||
Required:
Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)
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