Problem 17-7A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total $34,000 32,900 26,350 59,050 (30,000) $122,300 $19,100 18,750 20,400 77,600 (23,150) $112,700 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,050 7,050 27,200 18,900 41,100 $122 300 $ 16,400 8,100 32.900 13 150 42,150 $112,700 $241,150 176,000 NOSKER COMPANY Income Statement 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 65,150 24,300 40,850 3,600 37,250 8,300 $28,950 Net income syplus.com/eduger/ti/main.uni Return to Blackboard Weygandt, Accounting Principles, 12e Help System Announcements PRINTER VERSION Additional data: 1. Dividends declared and paid were $30,000. 2. During the year equipment was sold for $8,300 cash. This equipment cost $18,550 originally and had accumulat depreciation of $10,250 at the time of sale. 3. All depreciation expense, $17,100, 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 eithe sign e.g.-15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Inventory Increase in Accounts Receivable Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Titer selected 453 KB 132 items 5 G mileyplus.com/edugen/ti/main.uni Return to Blackboard Weygandt, Accounting Principles, 12e Help System Announcements PRINTER VERSION 18 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Cash Flows from Financing Activities Issuance of Common Stock Redemption of Bonds Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period $ Cash at End of Period Compute free cash flow. $ Free Cash Flow Click if you would like to show Work for this question: LI 4 pe here to search