Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rojas Corporations comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14,700 $11,000 Accounts receivable 21,100 23,800 Land

Rojas Corporation’s comparative balance sheets are presented below.

ROJAS CORPORATION
Comparative Balance Sheets
December 31

2020

2019

Cash

$14,700

$11,000

Accounts receivable

21,100

23,800

Land

20,000

25,600

Buildings

70,000

70,000

Accumulated depreciation—buildings

(15,400

)

(10,700

)

   Total

$110,400

$119,700

Accounts payable

$12,300

$28,100

Common stock

74,600

73,800

Retained earnings

23,500

17,800

   Total

$110,400

$119,700


Additional information:

1. Net income was $23,000. Dividends declared and paid were $17,300.
2. No noncash investing and financing activities occurred during 2020.
3.

The land was sold for cash of $4,700.

Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Free cash flow

$enter a dollar amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Solution To compute free cash flow we need to calculate the net cash pro... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

13th edition

978-1-119-4110, 1119411483, 9781119411017, 978-1119411482

More Books

Students also viewed these Accounting questions