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please answer this asap The following are the financial statements of Wildhorse Ltd. Notes payable 27,54033,660 Common shares 18,36014,280 Retained earnings Total liabilities and shareholders'
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The following are the financial statements of Wildhorse Ltd. Notes payable 27,54033,660 Common shares 18,36014,280 Retained earnings Total liabilities and shareholders' equity WILDHORSE LTD. Income Statement For the Year Ended December 31, 2024 Sales $246,840 \begin{tabular}{lr} Cost of goods sold & 178,500 \\ \hline Gross profit & 68,340 \end{tabular} \begin{tabular}{lr} Operating expenses & 24,480 \\ \hline Profit from operations & 43,860 \end{tabular} Interest expense 3,060 Additional Information: 1. Dividends declared and paid were $20,400. Wildhorse reports under IFRS and does not report dividends as operating activities. 2. During the year, equipment was sold for $8,670cash. This equipment cost $18,360 originally and had a carrying value of $8,670 at the time of sale. 3. All depreciation expense, $14,790, is included in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis ez (15,000)) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with elther a-sign eg.-? or in parenthesises. (15,000) ) Calculate free cash flow. (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis eg. (15,000).) Free cash flow Step by Step Solution
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