The following are the financial statements of Nosker Company.
Nosker Company.
Comparative Balance Sheets
December 31
Comparative Balance Sheets
December 31
Nosker Company.
Income Statement
For the Year Ended December 31, 2020
Income Statement
For the Year Ended December 31, 2020
Additional information:
- Dividends declared and paid were $20,000.
- During the year equipment wassold for $8,500 cash. This equipment coast $18,000 originally and had a book value of $8,500 is in the operating expenses
- All depreciation expense $14,500 is in the operating expenses
- All sales and purchasers and on account.
Instructions
- Prepare a statement of cash flows using the indirect method.
- Compute free cash flow
Solution
a.
Nosker Company.
Statement of Cash Flows (indirect method)
For the Year Ended December 31, 2020
Statement of Cash Flows (indirect method)
For the Year Ended December 31, 2020
b.
Nosker Company.
Statement of Cash Flows (Partial)
Statement of Cash Flows (Partial)
