Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Rojas Corporations comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2015 2014 Cash $14,010 $10,920 Accounts receivable 20,700 22,980 Land
Rojas Corporations comparative balance sheets are presented below.
ROJAS CORPORATION Comparative Balance Sheets December 31 | ||||||
2015 | 2014 | |||||
Cash | $14,010 | $10,920 | ||||
Accounts receivable | 20,700 | 22,980 | ||||
Land | 19,820 | 25,810 | ||||
Buildings | 69,530 | 69,530 | ||||
Accumulated depreciationbuildings | (15,050 | ) | (10,080 | ) | ||
Total | $109,010 | | $119,160 | | ||
Accounts payable | $12,160 | $30,850 | ||||
Common stock | 75,200 | 68,630 | ||||
Retained earnings | 21,650 | | 19,680 | | ||
Total | $109,010 | | $119,160 | |
Additional information:
1. | Net income was $23,050. Dividends declared and paid were $21,080. | |
2. | All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,590. |
Compute free cash flow.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started