Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ivanhoe Company issued the following statement of cash flows for 2022. $65,490 Ivanhoe Company Statement of Cash Flows-Indirect Method For the Year Ended December 31,

image text in transcribed

Ivanhoe Company issued the following statement of cash flows for 2022. $65,490 Ivanhoe Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense $ 10,101 Decrease in accounts receivable 10,545 Increase in inventory (5,550) Decrease in accounts payable (2,442) Loss on disposal of plant assets 3,663 Net cash provided by operating activities Cash flows from investing activities Sale of investments 3,441 Purchase of equipment (26,862) Net cash used by investing activities Cash flows from financing activities Issuance of stock 22,200 Payment on long-term note payable (11,100) Payment for dividends (14,430) Net cash used by financing activities Net increase in cash Cash at beginning of year Cash at end of year 16,317 81,807 (23,421) (3,330) 55,056 14,430 $69,486 (a) Compute free cash flow for Ivanhoe Company. (Show a negative free cash flow with either a - sign eg.-15,000 or in parenthesis eg. (15,000).) Free cash flow for Ivanhoe Company

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions