NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities 30,600 $ Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities v 15.900 Depreciation Expense (13.400) Increase in Accounts Receivable (5.650) Increase in Inventory 11.800 Increase in Accounts Payable (1.000) Decrease in Income Taxes Payable v 7.650 Net Cash Provided by Operating Activities 38,250 Cash Flows from Investing Activities Sale of Equipment 8.500 Net Cash Provided by Investing Activities 8.500 Cash Flows from Financing Activities Issuance of Common Stock 3.900 Payment of Dividends (31,500) (4.250) Redemption of Bonds (31,850) Net Cash Used by Financing Activities 14.900 Net Increase in Cash 19.250 Cash at Beginning of Period $ 34,150 Cash at End of Period Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).). Free Cash Flow $ NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total $34,150 32,700 26.650 59,500 (29,900) $123.100 $19,250 19,300 21,000 77,200 (23,200 ) $113,550 $28.350 $ 16.550 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable 7.200 8.200 32.250 14.050 Common stock 28.000 17.950 41,600 $123.100 42.500 Retained earnings $113.550 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue $241,950 Cost of goods sold 175.000 Gross profit 66,950 Operating expenses 24.850 Income from operations 42.100 Interest expense 2.700 Income before income taxes 39.400 Income tax expense 8.800 Net income $30.600 Additional data: 1. 2. Dividends declared and paid were $31,500. During the year, equipment was sold for $8.500 cash. This equipment cost $17,700 originally and had a book value of $8.500 at the time of sale. All depreciation expense, $15.900, is in the operating expenses. All sales and purchases are on account. 3. 4