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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 | $ 41,600 | |
Adjustments to convert net income to cash basis: | ||
Depreciation | $ 21,800 | |
Increase in accounts receivable | (60,400) | |
Increase in inventory | (25,300) | |
Decrease in prepaid expenses | 9,500 | |
Increase in accounts payable | 53,600 | |
Decrease in accrued liabilities | (10,900) | |
Increase in income taxes payable | 4,700 | (7,000) |
Net cash provided by (used in) operating activities | 34,600 | |
Investing activities: | ||
Proceeds from the sale of equipment | 15,000 | |
Loan to Thomas Company | (40,900) | |
Additions to plant and equipment | (120,200) | |
Net cash provided by (used in) investing activities | (146,100) | |
Financing activities: | ||
Increase in bonds payable | 89,900 | |
Increase in common stock | 38,600 | |
Cash dividends | (28,800) | |
Net cash provided by (used in) financing activities | 99,700 | |
Net decrease in cash and cash equivalents | (11,800) | |
Beginning cash and cash equivalents | 27,200 | |
Ending cash and cash equivalents | $ 15,400 |
Required:
Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)
FREE CASH FLOW_____
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