Financial statements for Crane Company are given below: Crane Company Balance Sheet January 1, 2021 Assets   Equities Cash   $  970000   Accounts payable   $  458000 Accounts receivable   867000         Buildings and equipment   3680000         Accumulated depreciation— buildings and equipment   (1160000 ) Common stock   2790000 Patents       431000   Retained earnings       1540000     $4788000       $4788000 Crane Company Statement of Cash Flows For the Year Ended December 31, 2021 Increase (Decrease) in Cash . Cash flows from operating activities             Net income         $1180000   Adjustments to reconcile net income to net cash provided by operating activities:               Increase in accounts receivable   $(386000 )         Increase in accounts payable   196000           Depreciation—buildings and equipment   358000           Gain on sale of equipment   (147000 )         Amortization of patents      48000       69000 Net cash provided by operating activities         1249000 . Cash flows from investing activities             Sale of equipment   286000         Purchase of land   (603000 )       Purchase of buildings and equipment   (1149000 )     Net cash used by investing activities         (1466000) . Cash flows from financing activities             Payment of cash dividend   (364000 )       Sale of common stock   966000       Net cash provided by financing activities         602000 Net increase in cash         385000 Cash, January 1, 2021         970000 Cash, December 31, 2021         $1355000 Total assets on the balance sheet at December 31, 2021 are $6651000. Accumulated depreciation on the equipment sold was $339000. The book value of the buildings and equipment at December 31, 2021 was $3652000. $4390000. $3241000. $3172000.

The comparative balance sheet of Gus Company at December 31, 2021 and 2020 appears below: Assets: 12/31/2021 12/31/2020 Cash $  53,000  $ 120,000  Accounts receivable (net) 37,000  48,000  Inventories 108,500  100,000  Equipment 573,200  450,000  Accumulated depreciation-equipment  (142,000)  (176,000)   $629,700  $542,000  Liabilities & Stockholders Equity:     Accounts payable $  62,500  $  43,800  Bonds payable, due June 2021 0  100,000  Common stock, $10 par 335,000  285,000  Paid-in capital in excess of par - Common stock 74,000  55,000  Retained earnings   158,200      58,200    $629,700  $542,000    The income statement for the year ended December 31, 2021 appears below: Sales   $625,700  Cost of merchandise sold     340,000  Gross profit   285,700  Operating expenses (includes $26,000 depreciation expense)       94,000…

Presented below are data taken from the records of Wildhorse Company.     December 31,2020   December 31,2019 Cash   $15,200   $8,100 Current assets other than cash   84,700   60,600 Long-term investments   10,000   52,900 Plant assets   332,400   215,200     $442,300   $336,800           Accumulated depreciation   $20,100   $40,100 Current liabilities   39,600   22,100 Bonds payable   74,800   –0– Common stock   254,500   254,500 Retained earnings   53,300   20,100     $442,300   $336,800 Additional information: 1.   Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2.   Plant assets that cost $50,500 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3.   Net income as reported on the…

Selected financial info for Strand Corp is below: Cash Accounts receivable (net) Inventory Land Equipment Accumulated depreciation TOTAL Accounts payable Notes payable- current Notes payable- non-current Common stock Retained earnings TOTAL 2022 2021 $63,000 $42,000 $151,200 $84,000 $201,600 $168,000 $21,000 $58,800 $789,600 $504,000 ($115,600) ($84,000) $1,110,800 $772,800 $86,000 $50,400 $29,400 $67,200 $302,400 $168,000 $487,200 $420,000 $205,800 $67,200 $1,110,800 $772,800 Additional info for 2022: 1) Net Income was $235,200 2) Depreciation expense was recorded 3) Land was sold at its original cost. No other assets were sold 4) Cash dividends were paid 5) Equipment was purchased for cash REQUIRED: A) Prepare a formal Statement of Cash Flows for 2022 B) Prepare a calculation for Free Cash Flow

The comparative statement of financial position of Concord Corporation as at December 31, 2023, follows: Assets Cash Accounts receivable Equipment CONCORD CORPORATION Statement of Financial Position December 31 Less: Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable 2023 December 31 $53,000 90,000 26,300 (9,300) $160,000 $20,000 2022 $1,400 88,700 21,600 (11,300) $100,400 $10,000

Current assets Cash Accounts receivable Inventory Total Net plant and equipment Total assets Current assets Cash Assets Fixed assets 2017 $ 10,200 30,200 74,600 $ 115,000 Accounts receivable Inventory Total $285,000 $400,000 Assets 2018 Net plant and equipment $ 13,200 38,640 87,120 $ 138,960 $ 341,040 $480,000 $ $ $ 2017 Current liabilities For each account on this company's balance sheet, show the change in the account during 2018 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Leave no cells blank - be certain to enter "0" wherever required. A negative answer should be indicated by a minus sign.) Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in Retained earnings surplus Liabilities and Owners' Equity 2017 Total 10,2003 30,200 74,600 115,000 Total liabilities and owners' equity 285,000 Sources/Uses $ $ $ $ 46,000 27,800 $ 73,800 $ 40,000 $ 60,000 226,200 $286,200…

Preparing a Cash Flow Statement—Indirect Method Sketchers Corporation’s recent comparative balance sheet and income statement follow.   Balance Sheets, December 31 2019 2020 Assets     Cash and cash equivalents $12,800 $54,400 Accounts receivable (net) 16,000 28,800 Inventory 32,000 38,400 Investment, long-term 6,400   Plant assets 96,000 150,400 Accumulated depreciation (16,000) (22,400) Total assets $147,200 $249,600 Liabilities and Stockholders’ Equity     Accounts payable $9,600 $16,000 Notes payable, short-term (nontrade) 12,800 9,600 Notes payable, long-term 32,000 57,600 Common stock, no-par 80,000 128,000 Retained earnings 12,800 38,400 Total liabilities andstockholders’ equity $147,200 $249,600 Income Statement,For Year Ended December 31 2020 Sales revenue $480,000 Cost of goods sold (288,000) Gross margin 192,000 Depreciation expense (6,400) Other operating expenses (104,400) Net income $83,200   Additional…

On January 1, 2024, the general ledger of Freedom Fireworks includes the following account balances: Accounts Cash Credit Debit $11,200 Accounts Receivable 34,000 Allowance for Uncollectible Accounts $1,800 Inventory 152,000 Land 67,300 Buildings 120,000 Accumulated Depreciation Accounts Payable 9,600 17,700 Common Stock 200,000 Retained Earnings Totals $ 384,500 155,400 $384,500 During January 2024, the following transactions occur: January 1 Borrow $100,000 from Captive Credit Corporation. The installment note bears interest at 7% annually and matures in 5 years. Payments of $1,980 are required at the end of each month for 60 months. January 4 Receive $31,000 from customers on accounts receivable. January 10 Pay cash on accounts payable, $11,000. January 15 Pay cash for salaries, $28,900. January 30 Firework sales for the month total $195,000. The cost of the units sold is $112,500. January 31 Pay the first monthly installment of $1,980 related to the $100,000 borrowed on January 1.…

Using the information from below make a statement of cash flows for the year ended december 31, 2020 using the direct method.

Quantitative Problem: Rosnan Industries' 2022 and 2021 balance sheets and income statements are shown below. Balance Sheets:   2022   2021 Assets     Cash and equivalents $ 100     $ 85   Accounts receivable   275       300   Inventories   375       250         Total current assets $ 750     $ 635   Net plant and equipment   2,300       1,490   Total assets $ 3,050     $ 2,125             Liabilities and Equity         Accounts payable $ 150     $ 85   Accruals   75       50   Notes payable   150       75         Total current liabilities $ 375     $ 210   Long-term debt   450       290         Total liabilities $ 825     $ 500   Common stock   1,225       1,225   Retained earnings   1,000       400         Total common equity $ 2,225     $ 1,625   Total liabilities and equity $ 3,050     $ 2,125   Income Statements:   2022   2021 Sales $ 2,405     $ 1,585   Operating costs excluding depreciation   1,250       1,000   EBITDA $…