Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Catalina Company reported net income of $200000 for the year ended December 31, 2017. During the year, inventories decreased by $40000, accounts payable decreased by

image text in transcribedimage text in transcribed

Catalina Company reported net income of $200000 for the year ended December 31, 2017. During the year, inventories decreased by $40000, accounts payable decreased by $60000, depreciation expense was $45000 and a gain on disposal of equipment of $15000 was recorded. Net cash provided by operating activities in 2017 using the indirect method was $245000. $210000. $240000. $280000. During 2017, Ecuyer Industries reported cash provided by operations of $794000, cash used in investing of $686000, and cash used in financing of $190000. In addition, cash spent for fixed assets during the period was $2276000. Average current liabilities were $650000 and average total liabilities were $1716000. No dividends were paid. Based on this information, what was Ecuyer's free cash flow? $518000. $-604000. $144000. $108000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Lean Audit A Detailed User Guide For The Lean Factory Audit Online

Authors: Isaias Wallaker

1st Edition

B09R3HXJ11, 979-8408651320

More Books

Students also viewed these Accounting questions