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Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14,800 Accounts receivable 20,700 Land 20,500 Buildings 69,600
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 Cash $14,800 Accounts receivable 20,700 Land 20,500 Buildings 69,600 Accumulated depreciation-buildings (14,800) Total $110,800 2019 $10.400 23,100 26,200 69,600 (10,800) $118,500 . Accounts payable Common stock Retained earnings Total $12.800 74,000 24,000 $110.800 $27.900 71,400 19,200 $118,500 Additional information: 1. 2 3. Net income was $22,200. Dividends declared and paid were $17.400. No noncash investing and financing activities occurred during 2020. The land was sold for cash of $4,600. Your answer is partially correct. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a sig eg.-15,000, or in parenthesis eg. (15,000).) ROJAS CORPORATION Statement of Cash Flows For the Month Ended December 31, 2020 V Question 8 of 11 Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with e.g. -15,000, or in parenthesis eg. (15,000)) ROJAS CORPORATION Statement of Cash Flows For the Month Ended December 31, 2020 Cash Flows from Operating Activities $ 22200 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 4000 Loss on Disposal of Plant Assets V 1100 Decrease in Accounts Receivable 2400 Decrease in Accounts Pavable 1510 -7600 Net Cash Provided by Operating Activities 14600 Cash Flows from Investing Activities Sale of Land 4600 Net Cash Provided by Investing Activities V 4600 Cash Flows from Financing Activities Issuance of Common Stock $ 2600 Payment of Dividends -17400 Net Cash Provided by Financing Activities 14800 Net Increase in Cash 4400 Cash at Beginning of Period 10400 Cash at End of Period 14800 * Your answer is incorrect. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number eg.-45 or parenthe 4000 Free cash flow
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