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The following is a condensed version of the comparative balance sheets for Sarasota Corporation for the last two years at December 31. Additional information: Itwestments
The following is a condensed version of the comparative balance sheets for Sarasota Corporation for the last two years at December 31. Additional information: Itwestments were sold at a loss of $11,000, no equipment was sold; cash dividends paid were $33,000; and net income was $176,000. Cash Flows from Operating Activities Net income 5 176000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense s 18700 Decrease in Accounts Recelvable Decrease in Current Liabilities Loss on Sale of investments Cash Flows from Imesting Activities Saic of Investments Purchase of Equipment 63800 Net Cash Provided by Operating Activities Castiflows from Finarking Activitles Payment of Cash Dividends Net Incriane incash Cathat Becirining of Ycar Determine Sarasota Corporation's free Cash flow, (Shoyemount that decrease cash flow with either asign eg 15,000 or in parenthesiseg. (15,000) ) Freecash flow
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