ment CALCULATOR Problem 17-07A (Video) (Part Level Submission) PRINTER VERSION BACK NEXT The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $35,850 $20,350 Accounts receivable 32,200 18,950 Inventory 26,000 20,100 Equipment 59,700 77,050 (29,000) (23,100) Accumulated depreciation-equipment $113,350 $124,750 Total Liabilities and Stockholders' Equity $16,250 $28,650 Accounts payable 8,250 7,300 Income taxes payable 33,250 26,400 Bonds payable 14,900 18,350 Common stock 40,700 44,050 $113,350 Retained earnings $124,750 Total NOSKER COMPANY Statement Inc Ended December 31, 2020 $242,750 For the Year Sales revenue MacBook Pro ament CALCULATOR PRINTER VERSION NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue $242,750 Cost of goods sold 175,850 Gross profit 66,900 Operating expenses 23,600 Income from operations 43,300 Interest expense 3,500 39,800 Income before income taxes 7,050 Income tax expense $32,750 Net income Additional data: 1. Dividends declared and paid were $29,400. t the time of sale. 2. During the year, equipment was sold for $8,300 cash. This equipment cost $17,350 originally and had a book value of $8,300 3. All depreciation expense, $14,950, is in the operating expenses. All sales and purchases are on account. 4. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthe (15,000).) Your answer is correct. MacBook Pro Downloadable Textbook ent CALCULATOR PRINTER VERSION NOSKER COMPANY Statement of Cash Flows BACK NEXT For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 32750 Adjustments to reconcile net income to Net Cash Provided by Operating Activities 14950 Depreciation Expense -13250 Increase in Accounts Receivable -5900 Increase in Inventory 12400 Increase in Accounts Payable -950 Decrease in Income Taxes Payable 5 7250 40000 Net Cash Provided by Operating Activities # MacBook Pro Downloadable eTextbook ment Cash Flows from Investing Activities CALCULATOR PRINTER VERSION BACK NEXT Sale of Equipment 8300 Net Cash Provided by Investing Activities 8300 Cash Flows from Financing Activities Issuance of Common Stock 3450 -6850 Redemption of Bonds -29400 Payment of Dividends -32800 Net Cash Used by Financing Activities 15500 Net Increase in Cash 20350 Cash at Beginning of Period 35850 Cash at End of Period Onen Show Work Click if vnu WOuld like to Show Work for this nnectinn: MacBook Pro By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 9 of 15 used (b) Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Free Cash Flow Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor SUBMIT ANSWER SAVE FOR LATER Attempts: 0 of 15 used MacBook Pro FS 6 4 2 T G