Muldur Corporation’s comparative balance sheets are presented below.
MULDUR CORPORATION |
Comparative Balance Sheets |
December 31
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|
|
2012
|
|
2011
|
Cash |
$ 15,200 |
|
$ 17,700 |
Accounts receivable |
25,200 |
|
22,300 |
Investments |
20,000 |
|
16,000 |
Equipment |
60,000 |
|
70,000 |
Accumulated depreciation |
(14,000)
|
|
(10,000)
|
Total |
$106,400
|
|
$116,000
|
|
|
|
|
Accounts payable |
$ 14,600 |
|
$ 11,100 |
Bonds payable |
10,000 |
|
30,000 |
Common stock |
50,000 |
|
45,000 |
Retained earnings |
31,800
|
|
29,900
|
Total |
$106,400
|
|
$116,000
|
Additional information:
- Net income was $18,300. Dividends declared and paid were $16,400.
- Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.
- All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.
-
1 Prepare a statement of cash flows for 2012 using the indirect method
2 prepare Compute free cash flow.
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