Metlock Corporation issued the following statement of cash flows for 2022. Metlock Corporation Statement of Cash...
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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, 2022 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Loss on disposal of plant assets Net cash provided by operating activities 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 Payment on long-term note payable Payment for dividends Net cash used by financing activities $9,282 9,690 (5.100) (2,244) 3,366 3,162 (24,684) 20,400 (10.200) (13,260 ) $60,180 14.994 75,174 (21.522 (3,060 Loss on disposal of plant assets Net cash provided by operating activities 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 Payment on long-term note payable Payment for dividends Net cash used by financing activities Net increase in cash Cash at beginning of year Cash at end of year 3,366 Free cash flow for Metlock Corporation $ 3,162 (24,684 ) 20,400 (10,200) (13,260) 14,994 75,174 (21,522) (3,060) 50,592 13,260 $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 parenthes (15,000).) 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: Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Loss on disposal of plant assets Net cash provided by operating activities 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 Payment on long-term note payable Payment for dividends Net cash used by financing activities $9,282 9,690 (5.100) (2,244) 3,366 3,162 (24,684) 20,400 (10.200) (13,260 ) $60,180 14.994 75,174 (21.522 (3,060 Loss on disposal of plant assets Net cash provided by operating activities 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 Payment on long-term note payable Payment for dividends Net cash used by financing activities Net increase in cash Cash at beginning of year Cash at end of year 3,366 Free cash flow for Metlock Corporation $ 3,162 (24,684 ) 20,400 (10,200) (13,260) 14,994 75,174 (21,522) (3,060) 50,592 13,260 $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 parenthes (15,000).)
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SOLUTION To compute the free cash flow for Metlock Corporation we need to use the following formula ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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