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HELP FAST Selected financial information for Frank Corporation is presented below. Selected transactions for the current year are as follows: a Purchased investment securities for
HELP FAST
Selected financial information for Frank Corporation is presented below. Selected transactions for the current year are as follows: a Purchased investment securities for $6,500cash b. Borrowed $18.000 on a two-year, 8 percent interest-bearing note c. During the year, sold machinery for its carrying amount, received $13.250 in cash. d. Purchased machinery for $53,000 : paid $10,500 in cash and signed a four-year note payable to the dealer for $42,500 e. Declared and paid a cash dividend of $11,500 on December 31 of the current year. Selected account balances at December 31 of the current and prior years are as follows: One-fourth of the sales and one-third of the purchases were made on credit: equired: Prepare a statement of cash flows for the year ended December 31 of the current year by using the indirect method. (Negative nswers should be indicated by a minus sign.) 3. Compute the quality of earnings ratio and the capital expenditures ratio. (Enter your answers in numbers and not in percentages. Round the final answers to 2 decimal places.) Step by Step Solution
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