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please I need the answer just indirect method and explain the answer are the financial statements of Nosker P17.7ALO 2, 3) Financial Statement The following

please I need the answer just indirect method and explain the answer image text in transcribed
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are the financial statements of Nosker P17.7ALO 2, 3) Financial Statement The following Y cash flows ompute free Company Nosker Company Comparative Balance Sheets December 31 Excel 2019 2020 Assets $ 38,000 30,000 27,000 60,000 (29,000) $20,000 14,000 20,000 78,000 (24,000) Cash Accounts receivable Indirect method Inventory Equipment Accumulated depreciation-equipment $108,000 $126,000 Total Liabilities and Stockholders' Equity $ 24,000 7,000 $15,000 8,000 33,000 14,000 38,000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 27,000 18,000 50,000 $126,000 $108,000 Total Nosker Company Income Statement For the Year Ended December 31, 2020 $242,000 175,000 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense 67,000 24,000 43,000 3,000 40,000 8,000 Income before income taxes Income tax expense $ 32,000 Net income Additional data: 1. Dividends declared and paid were $20,000. 2. During the year, equipment was sold for $8,500 cash. This equipment cost $18,000 ariginally and had a book value of $8,500 at the time of sale. 3. All depreciation expense, $14,500, is in the operating expenses. 4. All sales and purchases are on account Instructions st bnisto asodansd dm Prepare a statement of cash flows using the indirect method. b. Compute free cash flow. a. ( . C

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