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You have been provided with a 2020 income statement and 2019 and 2020 balance sheets for Wenwen, Inc. In addition: In 2020, Wenwen paid $5,000
You have been provided with a 2020 income statement and 2019 and 2020 balance sheets for Wenwen, Inc.
In addition:
- In 2020, Wenwen paid $5,000 of preferred stock dividends
- In 2020, Wenwen also paid common stock dividends
Your assignment is to:
- Prepare a 2020 cash flow statement for Wenwen, Inc. in proper GAAP format.
- Prepare a free cash flow calculation for 2020 and reconcile the free cash flow total to the total change in cash from the GAAP income statement.
Deliverable: Provide the requested information in an excel file. Add explanations and comments to the spreadsheet as needed.
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