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Exercise 12-8 Blue Spruce Corp.'s comparative balance sheets are presented below. Blue Spruce Corp. Comparative Balance Sheets December 31 2019 2018 15,200 $10,600 Cash 20,700
Exercise 12-8 Blue Spruce Corp.'s comparative balance sheets are presented below. Blue Spruce Corp. Comparative Balance Sheets December 31 2019 2018 15,200 $10,600 Cash 20,700 23,500 Accounts receivable 20,300 26,300 Land 69,900 69,900 Buildings (14,800) (10,500) Accumulated depreciation-buildings $111,300 $119,800 Total Accounts payable $11,800 $28,300 75,900 71,600 Common stock Retained earnings 23,600 19,900 $111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400. 2. No noncash investing and financing activities occurred during 2019. 3. The land was sold for cash of $4,500. Prepare a statement of cash flows for 2019 using the indirect method. (Show amounts Blue Spruce Corp. Statement of Cash Flows Adjustments to reconcile net income to LINK TO TEXT LINK TO TEXT Compute free cash flow. (Enter negative amount using either a negative sign preceding Free cash flow $ Open Show Work Click if you would like to Show Work for this question: 4
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