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-oblem 13-7A (Part Level Submission) resented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 Cash $34,510

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-oblem 13-7A (Part Level Submission) resented below are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 Cash $34,510 Accounts receivable 32,720 Inventory 26,760 Equipment 59,470 Accumulated depreciation-equipment (29,350 ) Total $124,110 2014 $20,130 19,360 20,780 77,810 (23,180) $114,900 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,510 7,450 27,750 18,930 41,470 $124,110 $ 16,430 8,290 33,190 13,610 43,380 $114,900 NOSKER COMPANY Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net Income $242,470 176 360 66,110 24,470 41.640 2,640 39,000 2.540 $31 160 Additional data: 1. Dividends declared and paid were $33,070. 2. During the year equipment was sold for $7,970 cash. This equipment cost $18,340 originally and had a book value of $7.970 at the time of sale. 3. All depreciation expense, $16,540, is in the operating expenses. 4. All sales and purchases are on account (a) Your answer is partially correct. Try again Prepare a statement of cash flows using the indirect method. (Show amount that c o w with other asing. - 15.000 NOSCER COMPANY Statement of Cash Flows For the Year Ended December 31, 2015 shows from Operating Active Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with eith NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2015 Cash Flows from Operating Activities ? 31160 T Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 16540 Increase in Accounts Receivable 13360 Increase in Inventory 5980 Increase in Accounts Payable 12080 Decrease in Income Taxes Payable 8440 Net Cash Provided by Operating Activities 39600 Cash Flows from Investing Activities Sale of Equipment 7970 Net Cash Provided by Financing Activities 5440 T ance of common stock Net Cash used by Financing Activities Net Increase in Canh Cash at Beginning of prod cho Period 34510 (b) Compute free cash flow. Free cash flow LINK TO TEXT

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