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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
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
______________
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 PeriodStep by Step Solution
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