Question 3.2

nt of Retained Earnings 4,386 s 701 s 1,517 s 2,387 s 3.333 s 1.745 ng-of-year balance 1256 1,718 -95 1,384 1,062 d stock dividends -216 s 5.294 3.333 s 4.386 -500 -102 on equity dividends 1,517 2,387 year balance. ay contain small rounding errors financial Jake and Phil Company (Cash Flow Statement and Free Cash Fl schedule): We provide i equip statement forecasts for the Jake Exhibit P3.2 (comparative balance ts, an of and Phil Company plant, and statement, and statemen of retained eamings. Year 3.the company sold increase in cash ment with an acquisition cost of $5.000. Its income tax rate is 40%. The company schedule the SI .000 year. Prepare a statement of cash Flows, a Free Cash Flow rations ings to operate next Cash Flow schedule using the Cash Flow from Before Interest and Taxes method and a Free method for Year 3