Question 2 Vox Corporations comparative balance sheets are presented below VOX CORPORATION Comparative Balance Sheets December 31 2017 $ 19,300 Accounts receivable 21,200 Land 20,000 Building 70.000 Accumulated depreciation 415.000) Total $115.500 2016 $ 10,000 23.000 20,000 70,000 (10,000) $119.000 Accounts payable $17,370 530,000 Common och 75,000 60,000 Retained coming 23.130 20.000 Total $115.000 $110.000 Additional information 1. Net income was $27.630. Dividends declared and paid were 524 500 2. Al other changes in noncurrent account balances had a dret affect on cash flow, except the change in Documlated depreciation. The land was told for $3.000 Instructions (a) Prepare a statement of cash flows for 2017 using the indeed method (b) Compute free cashow Question 3 Jeffries Company purchased a delivery truck for $50,000 on January 1, 2017 The truck has an expected salvage value of $4,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2017 and 12,000 in 2018, I Instructions (a) Compute depreciation expense for 2017 and 2018 using (1) the straight-line method, (2) the units of activity method, and (3) the double declining balance method (b) Assume that Jeffries uses the straight-line method (1) Prepare the journal entry to record 2017 depreciation, (2) Show how the truck would be reported in the December 31, 2017, balance sheet