Problem 17-08A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $36,100 Accounts receivable 32,500 Inventory 29,300 Equipment 59,000 Accumulated depreciation-equipment (29,600) Total $127,300 2019 $20,600 19,500 20,000 77,300 (23,800) $113,600 Llabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,300 7,200 26,200 18,400 47,200 $127,300 $ 16,600 8,400 33,400 13,000 42,200 $113,600 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold $242,800 175,700 TER VERSION 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 Net Income $242,800 175,700 67,100 23,500 43,600 2,200 41,400 8,400 $33,000 Additional data: 1. Dividends declared and paid were $28,000. 2. During the year, equipment was sold for $9,500 cash. This equipment cost $18,300 originally and had a book value of $9,500 at the time of sale. 3. All depreciation expense, $14,600, is in the operating expenses. 4. All sales and purchases are on account. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. Your answer is partially correct. Try again. S Weygandt, Accounting Principles, 13e Help System Announcements CALCULATOR Your answer is partially correct. Try again. Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with elther a-sign (15,000).) NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Cash Receipts from Customers 190800 Less cash payments: To Suppliers 140100 For Operating Expenses For Interest For Income Taxes DO Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Net Cash Provided by Investing Activities Net Cash Provided by Financing Activities > Payment of Dividends Redemption of Bonds DDD Issuance of Common Stock Net Cash Used by Financing Activities Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period idd Cash at End of Period LINK TO TEXT LINK TO TEXT X Your answer is incorrect. Try again. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g.-45 or parent Free cash flow Click If you would like to Show Work for this question: Open Show Work