Question 4 of 6 > The following are the financial statements of Nosker Company. 2019 N&sker Company Comparative Balance Sheets December 31 Assets 2020 Cash $38,000 Accounts receivable 30,000 Inventory 27,000 Equipment 60,000 Accumulated depreciation-equipment (29,000) Total $126,000 $20,000 14,000 20,000 78,000 (24,000) $108,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $24,000 7,000 27,000 18,000 50,000 $15,000 8,000 33,000 14,000 38,000 SOZ Question 4 of 6 Vurus puyuwi www Common stock Retained earnings Total 18,000 50,000 $126,000 14,000 38.000 $108,000 Nosker Company Income Statement For the Year Ended December 31, 2020 Sales revenue $242,000 Cost of goods sold 175,000 Gross profit 67,000 Operating expenses 24.000 Income from operations 43,000 Interest expense 3,000 Income before income taxes 40,000 Income tax expense 8,000 Net income $32.000 - / 1 Question 4 of 6 8,000 Income tax expense Net income $32,000 Additional data: 1 2 Dividends declared and paid were $20,000, During the year, equipment was sold for $8,500 cash. This equipment cost $18,000 originally and had a book value of $8.500 at the time of sale. All depreciation expense, $14.500, is in the operating expenses. All sales and purchases are on account 3. 4. Question 4 of 6 - 71 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Nosker Company Statement of Cash Flows Adjustments to reconcile net income to QSLUHY ULU Adjustments to reconcile net income to a : UCSLIUIUIU $ e Textbook and Media 5,275 words 30 eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Compute free cash flow. Free cash flow $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit