Question
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 $ 40,500 Adjustments to convert net income to cash basis: Depreciation $ 21,100 Increase in accounts receivable (60,200) Increase in inventory (26,600) Decrease in prepaid expenses 9,000 Increase in accounts payable 53,400 Decrease in accrued liabilities (11,300) Increase in income taxes payable 4,600 (10,000) Net cash provided by operating activities 30,500 Investing activities: Proceeds from the sale of equipment 15,400 Loan to Thomas Company (41,700) Additions to plant and equipment (121,100) Net cash used for investing activities (147,400) Financing activities: Increase in bonds payable 89,600 Increase in common stock 38,300 Cash dividends (28,900) Net cash provided by financing activities 99,000 Net decrease in cash (17,900) Beginning cash balance 28,700 Ending cash balance $ 10,800 Required: Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)
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