The following are the financial statements of Nosker Company. 2019 NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $37,400 Accounts receivable 32,000 Inventory 30,400 Equipment 59,600 Accumulated depreciation equipment (29,400) $130,000 $19,900 18,800 20,200 78,000 (24,000) $112,900 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,300 7,000 27,900 18,700 48,100 $130,000 $ 16,200 8,500 33,500 14,000 40,700 $112,900 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold $241,800 176,200 Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income 65,600 23,400 42,200 2,200 40,000 7,400 $32,600 Additional data: 1. Dividends declared and paid were $25,200. During the year, equipment was sold for $9,500 cash. This equipment cost $18,400 originally and had a book value of $9,500 4 at the time of sale. 3. All depreciation expense, $14,300, is in the operating expenses. 4. All sales and purchases are on account. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. Your answer is partially correct. Try again. Prepare a statement of cash flows for Nosker Company using the direct 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 For the Year Ended December 31, 2020- Cash Flows from Operating Activities Cash Receipts from Customers 228600.00 Less cash payments: T To Suppliers (174300.00) For Interest T (2200.00) For Operating Expenses T (9100.00) For Income Taxes (8900.00) (34100.00) | Net Cash Provided by Operating Activities 34100.00 Cash Flows from Investing Activities - 1 sale or Equipment 2000.0 Sale of Equipment 9500.00 Net Cash Provided by Investing activities Net Cash Provided by Investing Activities - 2500.00 9500.00 Cash Flows from Financing Activities - Redemption of Bonds T 5 (5600.00) Issuance of Common Stock 4700.00 Payment of Dividends (25200.00) Net Cash Used by Financing Activities - (26100.00) Net Cash Used by Operating Activities 17500.00 Cash at Beginning of Period 19900.00 TCash at End of Period 37400.00 x Your answer is incorrect. Try again. Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) X Free cash flow J 43600.00
