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Statement of Cash Flows: Indirect Method PAGE 20 The comparative balance sheets for John Woods Mfg. Co., for December 31, 2016 and 2015 follow. Additional
Statement of Cash Flows: Indirect Method PAGE 20 The comparative balance sheets for John Woods Mfg. Co., for December 31, 2016 and 2015 follow. Additional information about John Wood's operations during 2016 is as follows:(a) net loss $75,000-be careful here:(b) furniture & fixture depreciatior expense amounts $46,800 (c) furniture and fixtures that cost $35,600 with accumulated depreciation of $28,800 sold at a gain of $7,000; (d) F &F purchases, $39,600; (e) patent amortization, $6,000; purchase of patent, $4,000; (D) funds borrowed by issuing converted bonds payable in the amount $100,000 into 4,000 shares of common stock (h) 1,500 shares of $20 par value common stock issued for a total of s50,000; and () paid notes payable, $40,000; notes payable repaid, $20,000; (2) cash dividend, $6,000 REQUIRED 1. Using the indirect method, prepare a statement of cash flows for John Woods Mfg. 2. Compute and assess cash flow yield and free cash flow for 2016. (Note: Round cash flow yield to one decimal place.)
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