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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 | $ | 41,700 | ||
Adjustments to convert net income to cash basis: | ||||
Depreciation | $ | 20,200 | ||
Increase in accounts receivable | (60,100) | |||
Increase in inventory | (26,200) | |||
Decrease in prepaid expenses | 10,500 | |||
Increase in accounts payable | 53,400 | |||
Decrease in accrued liabilities | (10,700) | |||
Increase in income taxes payable | 4,500 | (8,400) | ||
Net cash provided by operating activities | 33,300 | |||
Investing activities: | ||||
Proceeds from the sale of equipment | 14,300 | |||
Loan to Thomas Company | (41,800) | |||
Additions to plant and equipment | (120,900) | |||
Net cash used for investing activities | (148,400) | |||
Financing activities: | ||||
Increase in bonds payable | 90,000 | |||
Increase in common stock | 39,000 | |||
Cash dividends | (28,300) | |||
Net cash provided by financing activities | 100,700 | |||
Net decrease in cash | (14,400) | |||
Beginning cash balance | 27,000 | |||
Ending cash balance | $ | 12,600 | ||
Required: |
Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.) |
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