Do these look correct? if not what needs to to be changed? and what are the part 2 answers?
Exercise 11747 (AlgoTILIMITC) Preparing the Statement of Cash Flows The comparative balance sheets for Beckwith Products Company are presented below. 2019 2018 Assets: Cash $ 36,950 $ 25,000 Accounts receivable 75, 100 78,000 Inventory 45,300 36,000 Property, plant, and equipment 256,400 153,000 Accumulated depreciation 38,650 20,000 Total assets $ 375,100 $ 272,000 Liabilities and Equity: Accounts payable $ 13,100 $ 11,000 Interest payable 11,500 8,000 Wages payable 8,100 9,000 Notes payable 104,500 90,000 Common stock 87,500 50,000 Retained earnings 150,400 104,000 Total liabilities and equity $375,100 $ 272,000 Additional Information: 1. Net income for 2019 was $58,400. 2. Cash dividends of $12,000 were declared and paid during 2019. 3. During 2019, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable. UITETUT TUOTTOTIT 1. Net income for 2019 was $58,00 2. Cash dividends of $12,000 were declared and paid during 2019 3. During 2019, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable 4. Common stock was issued for $37,500 cash 5. Depreciation expertise was $18.150, and there were no disposnis of equipment Required: 1. Prepare a statement of cash flows (indirect method for Beckwith Products for 2019. Use a minus sign to indicate any decreases in cash or cash outflows. Beckwith Products Company Statement of Cash Flows for the Year Ended December 31, 2019 Cash flows from operating activities Net income Adjustments to reconcilet income to net cash flow from operating advies Deprecate 5,00 10,650 2.900 Decrease in accounts receivable Incintory 9,100 2.100 Increase in interest payable 3.500 son 1.50 73.350 et ch provided by operating activities Cashow from investing activities 103,400 Previous -V21 Online teach + nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionlocatorinprogress=false 75,350 103,400 Net cash provided by operating activities Cash flows from investing activities: Equipment purchase Net cash used for investing activities Cash flows from financing activities: Cash received from issuance notes 103.400 50,000 Increase in accounts payable 50,000 Decrease in wages payable 35,000 Payment of dividends 25,000 40,000 Net cash provided by financing activities Net change in cash 11,950 25,000 Cash, 1/1/2019 36,950 Cash, 12/31/2019 2. Compute the following cash-based performance measures: a. Free cash flow b. Cash flow adequacy (Note: Assume that the average amount of debt maturing over the next 5 years is $85.000). Use two decimal places for the adequacy ratio. Enter negative values as negative numbers: Free cash flow Adequacy ratio All work saved
