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I need help solving this, thank you! A comparative Balance Sheet for Mann Company appears below: MANN COMPANY Comparative Balance Sheet Dec 31, 2018 Dec.
I need help solving this, thank you!
A comparative Balance Sheet for Mann Company appears below: MANN COMPANY Comparative Balance Sheet Dec 31, 2018 Dec. 11. 2017 Current assets: Cash AR Inventory Prepaid Expenses Total current assets $27,000 18.000 25.000 6.000 $76,000 $10,000 14,000 18.000 9.000 $51,000 Long-term assets: Long-term Investments Equipment Accumulated Depreciation - Equipment Total Long-term assets 60.000 (20.000 $40,000 18.000 32.000 (14,000) $36,000 Total Assets 5116,000 S87,000 Current Liabilities: $17.000 $7,000 Long-term Liabilities: Bands Payable Total Liabilities 47.000 $54,000 $54,000 Stockholder's Equity: Common Stock Retained Earnings Total Stockholder's Equity 40.000 22.000 $62,000 23,000 10.000 $33,000 Total Liabilities and Equity $116,000 $87,000 Additional Information: 1. Net income for the year ending December 31, 2018 - $27.000 2. Cash dividends of were declared and paid during 2018 3. Long-term investments that had an original cost of $18,000 were sold for $14,000. Instructions: Prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2018. Include a proper heading for your statement and calculate FREE CASH FLOW and CASH FLOW YIELDStep by Step Solution
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