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Metlock Corporation issued the following statement of cash flows for 2022. Metlock Corporation Statement of Cash Flows-Indirect Method For the Year Ended December 31,
Metlock Corporation issued the following statement of cash flows for 2022. Metlock Corporation 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: $60,180 Depreciation expense $9,282 Decrease in accounts receivable 9,690 Increase in inventory (5,100) Decrease in accounts payable (2,244) Loss on disposal of plant assets 3,366 14,994 Net cash provided by operating activities 75,174 Cash flows from investing activities Sale of investments Purchase of equipment Net cash used by investing activities Cash flows from financing activities Issuance of stock 3,162 (24,684) (21,522) 20,400 Loss on disposal of plant assets 3,366 14,994 Net cash provided by operating activities 75,174 Cash flows from investing activities Sale of investments 3,162 Purchase of equipment (24.684) Net cash used by investing activities (21,522) Cash flows from financing activities Issuance of stock 20,400 Payment on long-term note payable (10,200 Payment for dividends (13,260 ) Net cash used by financing activities (3,060) Net increase in cash 50,592 Cash at beginning of year 13,260 Cash at end of year $63,852 (a) Compute free cash flow for Metlock Corporation. (Show a negative free cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).) Free cash flow for Metlock Corporation
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