Problem 17-07A (Video) The following are the financial statements of Nosker Company. 2019 NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $35,350 Accounts receivable 32,100 Inventory 26,150 Equipment 59,150 Accumulated depreciation-equipment (29,450) Total $123,300 $19,150 19,750 20,500 77,600 (23,750) $113,250 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,450 7,350 26,100 18,050 43,350 $123,300 $ 16,100 8,350 33,550 14,450 40,800 $113,250 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense $242,950 175,450 67,500 23,950 43,550 2,300 41,250 7,250 $34,000 Net income Additional data: Dividiando dalla disadasidan Net Income $34,000 Additional data: 1. Dividends declared and paid were $31,450. 2. During the year, equipment was sold for $7,900 cash. This equipment cost $18,450 originally and had a book value of $7,900 at the time of sale. 3. All depreciation expense, $16,250, 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 eg. -15,000 or in parenthesis 0.9. (15,000).) NOSKER COMPANY Statement of Cash Flows . Adjustments to reconcile net income to . . . . . ESOURCES lative DIA D2A 07A (Video 05A s by Study . . . . . . . . . Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free Cash Flow Clicky WoMillike to Show Work for this question answ. Mark