Splish Brothers Inc. engaged in the following cash transactions during 2017. Purchase of land $120,000 Purchase...
Splish Brothers Inc. engaged in the following cash transactions during 2017.
Purchase of land $120,000
Purchase of treasury stock 43,000
Issuance of preferred stock 213,000
Sale of land and buildings 268,000
Payment of cash dividends 33,000
Purchase of equipment 68,000
Retirement of bonds 309,000
Splish Brothers reported net cash provided by operating activities of $590,000. Determine Splish Brothers' free cash flow. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Homework Answers
| net cash provided by operating activities | $ 590,000 | |
| Less: Capital expenditure | ||
| Purchase of land | $ (120,000) | |
| Purchase of equipment | $ (68,000) | |
| Capital expenditure | $ (188,000) | |
| Less: Cash dividends | $ (33,000) | |
| free cash flow | $ 369,000 |
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