ES Problem 17-07A (Video) The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $34,550 $19,200 Accounts receivable 32,450 19,050 Inventory 26,950 20,200 Equipment 59,000 78,000 Accumulated depreciation-equipment (29,150) (23,450) Total $123,800 $113,000 udy. Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,550 7,500 27,800 18,250 41,700 $123,800 $ 16,450 8,300 32,400 13,800 42,050 $113,000 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,800 176,700 66,100 23,000 43,100 2,250 40,850 8,400 $32,450 Additional data: 1. Dividends declared and paid were $32,800. 2. During the year, equipment was sold for $8,050 cash. This equipment cost $19,000 originally and had a book value o 3. All depreciation expense, $16,650, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a NOSKER COMPANY Statement of Cash Flows Type here to search Net income $32,450 Additional data: 1. Dividends declared and paid were $32,800. 2. During the year, equipment was sold for $8,050 cash. This equipment cost $19,000 originally and had a book value of $8,050 at the time of sale, 3. All depreciation expense, $16,650, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a signe.g. -15,000 or in parenthesis e. 9. (15,000).) NOSKER COMPANY Statement of Cash Flows Adjustments to reconcile net income to > > > > > O . De here to search > > > LINK TO TEXT LINK TO TEKT Compute free cash flow. (Enter negative amount using either a negative sign preceding the number eg. 45 or parentheses e.g. (45).) Free Cash Flow $ Click if you would like to show Work for this question: een Show Work LINK TO TEXT LINK TO TEXT VIDEO, DELAR