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Exercise 5-15 The following is a condensed version of the comparative balance sheets for Wildhorse Corporation for the last two years at December 31. Cash
Exercise 5-15 The following is a condensed version of the comparative balance sheets for Wildhorse Corporation for the last two years at December 31. Cash Accounts receivable Investments Equipment Accumulated Depreciation Equipment Current liabilities Common stock Retained earnings 2020 $ 318,600 324,000 93,600 536,400 (190,800 ) 241,200 288,000 552,600 2019 $ 140,400 333,000 133,200 432,000 (160,200) 271,800 288,000 318,600 Additional information: Investments were sold at a loss of $18,000; no equipment was sold; cash dividends paid were $54,000; and net income was $288,000. Prepare a statement of cash flows for 2020 for Wildhorse Corporation. (Show amounts that decrease cash flow with either a - sign e.g.-15, WILDHORSE CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Sale of Investments Decrease in Accounts Receivable Decrease in Current Liabilities Determine Wildhorse Corporation's free cash flow. Free cash flow Click if you would like to Show Work for this question: Open Show Work
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