COMPUTE FREE CASH FLOW

amework Assignment due on WileyPLUS by 11:59 p.m. on Monday, Ap Question 2 of 3 Crane Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 21.000 $12.000 Accounts receivable 12,000 8.400 Inventory 16,800 12,000 Property, plant, and equipment 36,000 46.800 Accumulated depreciation (19.200 ) (14,400) Total $66,600 $64.800 $ 11400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable $9.000 4200 4,800 10.200 19,800 Common stock 10,800 8.400 Retained earnings 30.000 22.800 Total $66.600 $64.800 21 MacBook Air 3: 888 F es * @ 2 % $ 4 A 3 6 & 7 W E R T Y Y S D - Crane Company Income Statement For the Year Ended December 31, 2022 Sales revenue $145,200 Cost of goods sold 105,000 Gross profit 40,200 Selling expenses $10,800 Administrative expenses 3,600 14,400 Income from operations 25,800 Interest expense 1,800 Income before income taxes 24,000 Income tax expense 4,800 Net income $ 19,200 Additional data: 1. 2 Depreciation expense was $10,500. Dividends declared and paid were $12,000. During the year equipment was sold for $5,100 cash. This equipment cost $10,800 originally and had accumulated depreciation of $5,700 at the time of sale. 3 Compute free cash flow. (Show a negative free cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,00 Free cash flow $ e Textbook and Media Assistance Use Attempts: 2 of 12 used Submit Answer Save for Later Last saved 23 hours ago Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes