Exercise 15-6 (Algo) Prepare a Statement of Cash Flows; Free Cash Flow [LO15-1, LO15-2, LO15-3] Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings This Year Last Year $ 8.00 52.00 $ 15.00 45.00 95.00 81.80 155.00 141.80 234.00 46.40 187.60 $ 342.60 $ 57.00 122.00 163.60 196.00 34.80 161.20 $ 303.00 $ 47.00 94.00 162.00 $ 342.60 $ 303.00 Total liabilities and stockholders' equity For this year, the company reported net income as follows: Sales $ 900.00 Cost of goods sold Gross margin Selling and administrative expenses Net income 540.00 360.00 340.00 $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Carmono Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents 0.00 0.00 0.00 0.00 0.00 $ 0.00 < Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute Carmono's free cash flow for this year. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to 2 decimal places.) Free cash flow < Required 1 Required 2 >