Balance Sheets Jan. 1 Dec 31 1 2 Assets $25,000.00 536,950.00 3 Cash 78.000.00 75,100.00 Accounts receivable 36,000.00 45.300.00 153,000.00 256400.00 5 Inventory Property, plant, and equipment Accumulated depreciation 20,000.00 38,650.00 $272,000.00 5375.100.00 . Total assets $11,000.00 513.100.00 8.000.00 11.500.00 9,000.00 8.100.00 Liabilities and equity: 10 Accounts payable 11 Interest payable 12 Wages payable u Notes payable 14 Common stock 15 Retained earnings Total Liabilities and equity 90,000.00 105,000.00 50,000.00 100,000.00 104.000.00 137.400.00 5272.000.00 $375.100.00 16 1. Net income for the year was 558.400 2. Cash dividends of $25,000 were declared and paid during the year. 3. During the year, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $18,650, and there were no disposals of equipment Required: 1. Prepare a statement of cash flows (indirect method for Beckwith Products. 2. Compute the following cash-based performance measures: () free cash flow and (b) cash now adequacy (Note: Assume that the average amount of debt maturing over the next 5 years is $85,000) Labels and Amount Descriptions Labels Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities December 31 For the year ending December 31 Amount Descriptions Pres Amount Descriptions Cash, January 1 Cash, December 31 Cash received from issuance of notes Cash received from stock issue Depreciation expense Decrease in accounts receivable Decrease in inventory Decrease in wages payable Equipment purchase Increase in accounts payable Increase in accounts receivable Increase in inventory Increase in interest payable Increase in wages payable Net cash provided by financing activities Net cash used for financing activities Net cash provided by investing activities Net cash used for investing activities At And RA ck My Work Net cash used for investing activities Net cash provided by operating activities Net cash used for operating activities Net decrease in cash Net increase in cash Net income Net loss Payment of dividends Repayment of long-term liabilities Statement of Cash Flows 1. Prepare a statement of cash flows (indirect method) for Beckwith Products Statement of Cash Flows Instructions Final Question 2. Compute the following cash based performance measures: (a) tree cash flow and (b) cash tow adequacy (No. Assume that the average amount of debt maturing over the next 5 years a $85.000) Additional Instructor (a) Free cash flow S (b) Adequacy ratio