Question
All of them please
addition, cash spent for capital assets during the period was $210,700. No dividends were paid Calculate free cash flow
OURCES Problem 12-7A (Part Level Submission) Presented below are the financial statements of Concord Corporation. 12 Concord Corporation Comparative Balance Sheets December 31 2017 2016 -10 Pa Assets Cash Accounts receivable Inventory Property, plant, and equipment $38,150 21,800 15,260 21,800 85,020 21,800 30,520 65,400 (34,880) (26,160) Study Accumulated depreciation Total $120,990 $117,720 Liabilities and Stockholders Equity $ 20,710 $16,350 8,720 35,970 15,260 41,420 120,990 $117,720 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 7,630 18,530 19,620 54,500 Concord Corporation Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes $263,780 190,750 73,030 $19,620 6,540 26,160 46,870 3,270 43,600
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Kimmel, Accounting, 6e Help I S
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Answer #1

1.

Net cash provided by operating activities $   439,800
Less: Cash spent for capital Assets $ (210,700)
Free cash flow $   229,100

2.

Concord Corporation
Statement of Cash flows
For the Year Ended December 31, 2017
Cash flows from operating activities
Net Income   $   34,880
Adjustments to reconcile net income to ;
Depreciation expense $   19,075
Increase in accounts receivable $   (6,540)
Increase in inventory $   (8,720)
Increase accounts payable $      4,360
Decrease in income tax payable $   (1,090)
$      7,085
Net cash provided by operating activities $   41,965
Cash flows from investing activities
Cash received from sale of equipment $      9,265
Net cash provided by investing activities $      9,265
Cash flows from financing activities
Cash paid for dividends $ (21,800)
Cash paid for retire bonds $ (17,440)
Cash received from issuance of common stock $      4,360
Net cash used by financing activities $ (34,880)
Net Increase in cash and cash equivalents $   16,350
Cash and cash equivalents at beginning of period $   21,800
Cash and cash equivalents at end of period $   38,150

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