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please i really need clear and correct answers because i have only two attempts for the assignment. so pleaae give clear and correct answers. otherwise
please i really need clear and correct answers because i have only two attempts for the assignment. so pleaae give clear and correct answers. otherwise it will affect my grade.
Problem 17-7A The following are the financial statements of Nosker Company NOSKER COMPANY Comparative Balance Sheets Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment 2017 2016 $34,350 $19,600 32,600 26,350 59,250 (29,700) (23,400) 18,600 20,750 77,800 Total $122,850 $113,350 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $28,150 $16,850 8,350 33,950 13,850 40,350 $122,850 $113,350 7,050 27,700 17,200 42,750 Total NOSKER COMPANY For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,900 175,950 65,950 24,000 41,950 3,300 38,650 8,450 $30,200 Additional data: 1. 2. Dividends declared and paid were $27,800 During the year equipment was sold for $7,650 cash. This equipment cost $18,550 originally and had accumulated depreciation of $10,900 at the time of sale 3. All depreciation expense, $17,200, is 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 e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows Adjustments to reconcile net income to Compute free cash flow. Free Cash Flow Question Attempts: 0 of 2 used SAVE FOR LATER I SUBMIT
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