Homework Answers
Answer-
| WILD HORSE CORPORATION | ||
| STATEMENT OF CASH FLOWS (USING INDIRECT METHOD) | ||
| FOR THE YEAR ENDED DECEMBER 31,2020 | ||
| Particulars | Amount | |
| $ | ||
| Cash flow from operating activities | ||
| Net Income | 288000 | |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Adjustment for non cash effects | ||
| Depreciation | 30600 | |
| Loss on sale of investments | 18000 | |
| Change in operating assets & liabilities | ||
| Decrease in accounts receivable | 9000 | |
| Decrease in current liabilities | -30600 | |
| Net cash flow from operating activities (a) | 315000 | |
| Cash Flow from Investing activities | ||
| Long term investment sold | 21600 | |
| New equipment purchased | -104400 | |
| Net cash Flow from Investing activities (b) | -82800 | |
| Cash Flow from Financing activities | ||
| Cash dividends paid | -54000 | |
| Net cash Flow from Financing activities (c) | -54000 | |
| Net Change in cash c=a+b+c | 178200 | |
| Beginning cash balance | 140400 | |
| Closing cash balance | 318600 | |
Answer- Free cash flow = Net cash provided by operating activities- Capital expenditure-Cash dividends paid
= $315000-$104400-$54000
= $156600
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