Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable. Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income This Year $10.00 60.00 105.00 175.00 246.00 49.60 196.40 $ 371.40 $ 63.00 138.00 170.40 $ 371.40 $ 1,100.00 660,00 440.00 420.00 $ 20.00 Last Year Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. $ 19.00 53.00 92.20 164.20 204.00 37.20 166.80 $ 331.00 $ 51.00 106.00 174.00 $ 331.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Comparative financial statement data for Carmono Company follow:
Assets
Cash
Accounts receivable.
Inventory
Total current assets
Property, plant, and equipment
Less accumulated depreciation
Net property, plant, and equipment
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Common stock
Retained earnings
Total liabilities and stockholders' equity
For this year, the company reported net income as follows:
Sales
Cost of goods sold
Gross margin
Selling and administrative expenses
Net income
This Year
$ 10.00
60.00
105.00
175.00
246.00
49.60
196.40
$ 371.40
$ 63.00
138.00
170.40
$ 371.40
$ 1,100.00
660.00
440.00
420.00
$ 20.00
Last Year
Required:
1. Using the indirect method, prepare a statement of cash flows for this year.
2. Compute Carmono's free cash flow for this year.
$ 19.00
53.00
92.20
164.20
204.00
37.20
166.80
$ 331.00
$ 51.00
106.00
174.00
$ 331.00
This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The
company did not repurchase any of its own stock this year.
Transcribed Image Text:Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable. Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net income This Year $ 10.00 60.00 105.00 175.00 246.00 49.60 196.40 $ 371.40 $ 63.00 138.00 170.40 $ 371.40 $ 1,100.00 660.00 440.00 420.00 $ 20.00 Last Year Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. $ 19.00 53.00 92.20 164.20 204.00 37.20 166.80 $ 331.00 $ 51.00 106.00 174.00 $ 331.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year.
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