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Do It! Review 12-3 Ivanhoe Company issued the following statement of cash flows for 2017. Ivanhoe Company Statement of Cash Flows-Indirect Method For the Year
Do It! Review 12-3 Ivanhoe Company issued the following statement of cash flows for 2017. Ivanhoe Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2017 Cash flows from operating activities $131,747 Net income Adjustments to reconcile net income to net cash provided by operating activities $ 20,320 Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Loss on disposal of plant assets 21,214 (11,165) (4,913 ) 7,369 32,825 164,572 Net cash provided by operating activities Cash flows from investing activities Sale of investments 6,922 Purchase of equipment (54,039 ) Net cash used by investing activities (47,117) Cash flows from financing activities Issuance of stock Payment on long-term note payable Payment for dividends 44,660 (22,330) (29,029) Net cash used by financing activities (6,699 ) Net increase in cash Cash at beginning of year Cash at end of year (a) Compute free cash flow for Ivanhoe Company. (Show a negative free cash flow with either a - sign e.g. -15,000 o 110,756 29,029 $139,78:5 in parenthesis e.g. (15,000).) Free cash flow for Ivanhoe Company
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