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Comparative financial statement data for Carmono Company follow: This Year Last Year Assets Cash $ 1 2 . 0 0 $ 2 3 . 0
Comparative financial statement data for Carmono Company follow: This Year Last Year Assets Cash $ $ Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets $ $ Liabilities and Stockholders Equity Accounts payable $ $ Common stock Retained earnings Total liabilities and stockholders equity $ $ For this year, the company reported net income as follows: Sales $ Cost of goods sold Gross margin Selling and administrative expenses Net income $ This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: Using the indirect method, prepare a statement of cash flows for this year. Compute Carmonos free cash flow for this year.Using the indirect method, prepare a statement of cash flows for this year. List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to decimal places. tableCarmono CompanyStatement of Cash FlowsFor This Year Ended December Operating activities:Net income,,DepreciationIncrease in accounts receivable,Increase in inventory,Increase in accounts payable,Investing activities:Increase in plant and equipment,
Comparative financial statement data for Carmono Company follow:
This Year Last Year
Assets
Cash $ $
Accounts receivable
Inventory
Total current assets
Property, plant, and equipment
Less accumulated depreciation
Net property, plant, and equipment
Total assets $ $
Liabilities and Stockholders Equity
Accounts payable $ $
Common stock
Retained earnings
Total liabilities and stockholders equity $ $
For this year, the company reported net income as follows:
Sales $
Cost of goods sold
Gross margin
Selling and administrative expenses
Net income $
This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year.
Required:
Using the indirect method, prepare a statement of cash flows for this year.
Compute Carmonos free cash flow for this year.Using the indirect method, prepare a statement of cash flows for this year. List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to decimal places.
tableCarmono CompanyStatement of Cash FlowsFor This Year Ended December Operating activities:Net income,,DepreciationIncrease in accounts receivable,Increase in inventory,Increase in accounts payable,Investing activities:Increase in plant and equipment,
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