Exercise 13-7 (Part Level Submission)

Rojas Corporation's comparative balance sheets are presented below.

(a)

(b) Compute free cash flow.

Exercise 13-7 (Part Level submission) Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2016 2017 15,100 10,200 Cash 23,100 21,200 Accounts receivable 26,000 20,400 Land 69,700 69,700 Buildings (15,400) (10,600) Accumulated depreciation-buildings $118,400 $111,000 Total 12,700 28,200 Accounts payable 73,400 74,100 Common stock 16,800 24,200 Retained earnings $118,400 $111,000 Total Additional information: 1. Net income was $22,400. Dividends declared and paid were $15,000. 2. No noncash investing and financing activities occurred during 2017. 3. The land was sold for cash of $4,500. v (a) Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000, or in parenthesis e g. (15,000).)