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Megan Corporation's net income last year was $108,000. Changes In the company's balance sheet accounts forthe year appear below: Increases (Decreases) Asset and ContraAsset Accounts:
Megan Corporation's net income last year was $108,000. Changes In the company's balance sheet accounts forthe year appear below: Increases (Decreases) Asset and ContraAsset Accounts: Cash and cash equivalents $ (11,696) Accounts receivable $ (24,696) Inventory $ 8,696 Prepaid expenses it (14,996) Longater'm investments $ 96,696 Property, plant, and equipment $ 75,696 Accumulated depreciation $ 78,696 Liability and Equity Accounts: Accounts payable $ 6 Accrued liabilities $ 19,966 Income taxes payable it (12,966) Bonds payable $ (45,696) Common stock $ 36,696 Retained earnings $ 54,696 The company paid a cash dividend of $54000 and it did not dispose ofany long-term investments or property. plant, and equipment, The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash ows. The free cash flow for the year was: Multiple Choice 0 $3 25' 960 0 $169,000 O $143,000 The company paid a cash dividend of $54,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The free cash flow for the year was: Multiple Choice O $325,960 O $169,000 O $148,000 O $94,000
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