Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
B Apex Company prepared the statement of cash flows for the current year that is shown below. Apex Company Statement of Cash Flows-Indirect Method Operating
B Apex Company prepared the statement of cash flows for the current year that is shown below. Apex Company Statement of Cash Flows-Indirect Method Operating activities: Net income Adjustments to convert net income to cash basis: Depreciation $ 41,600 Increase in accounts receivable $ 21,500 (61,100) Increase in inventory (26,900) Decrease in prepaid expenses 10,000 Increase in accounts payable 54,900 Decrease in accrued liabilities: (11,600) Increase in income taxes payable 4,400 Net cash provided by (used in) operating activities (8,800) 32,800 Investing activities: Proceeds from the sale of equipment 15,300 Loan to Thomas Company (40,200) Additions to plant and equipment (121,200) Net cash provided by (used in) investing activities (146,100) Financing activities: Increase in bonds payable 89,200 Increase in common stock 38,700 Net cash provided by (used in) financing activities Beginning cash and cash equivalents Cash dividends Net decrease in cash and cash equivalents Ending cash and cash equivalents Required: 98,700 (14,600) 28,200 $ 13,600 Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) Answer is complete but not entirely correct. (29,200) Free sash Bow $ (113.300) Return
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started