Exercise 17-9 (Part Level Submission)

Rodriquez Corporations comparative balance sheets are presented below.

RODRIQUEZ CORPORATION Comparative Balance Sheets December 31
		2017			2016
Cash		$16,700			$17,500
Accounts receivable		24,900			22,300
Investments		20,050			16,050
Equipment		59,950			70,150
Accumulated depreciationequipment		(14,250	)		(10,000	)
Total		$107,350			$116,000
Accounts payable		$14,850			$11,050
Bonds payable		10,900			30,000
Common stock		50,100			44,500
Retained earnings		31,500			30,450
Total		$107,350			$116,000

Additional information:

1.		Net income was $18,450. Dividends declared and paid were $17,400.
2.		Equipment which cost $10,200 and had accumulated depreciation of $1,700 was sold for $3,700.
3.		No noncash investing and financing activities occurred during 2017.

B) Compute free cash flow

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RODRIQUEZ CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Equipment ODDI > Increase in Accounts Receivable Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Investments Il Sale of Equipment Payment of Dividends Retirement of Bonds cdo . Issuance of Common Stock Net Cash Used by Financing Activities Net Decrease in Cash 1 001 Cash at Beginning of Period Cash at End of Period