Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31...

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Presented below are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2016 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 76,650 43,800 43,800 30,660 61,320 43,a 131,400 170,820 (70,080) (52,560) 243,090 $236,520 Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 41,610 32,850 15,330 17,520 37,230 72,270 39420 30.660 83,220 $243,090 $236,520 109,500

Company Income Statement For the Year Ended 31, 2017 529,980 383,250 146,730 Sales revenue Cost of goods sold Gross proft Selling expenses Administrative expenses 13,1405 Income from operations Interest expense Income before income taxes Income tax expense Net income $39,420 52,560 94,170 6,570 87,600 70,080 Additional data: 1. Depreciation expense was $ 38,325. 2. Dividends declared and paid were $ 43,800. During the year equipment was sold for $ 18,615 cash. This equipment cost $ 39,420 originally and had accumulated depreciation of $ 20,805 at the time of sale.

cash flow with elther a-sigm es 15,000 or in parenthesl e (15.0 that Statement of Cash Flows Adjustments to reconcile net income to

Compute free cash flo (Show a negative ree cash flow with either-sign eg . 15,000 or in parenthesis eg (15,000 .) Free cash flow $

business accounting

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Answer 1

Answer #1

Statement of cash flow is statement that provides cash flow from business operations and investment sources.Three types of activities are involved.

Operating activities
Investing activities
Financing activities

There are two methods for calculating cash flow from operating activities.

Direct method
Indirect method

Blossors compan ndiret Nuthod) Net Incon e De ppreskoton 3833S Adjustments Inc rease in Accounts Rec C131Y0) 6o Deraase in nesne tax (2190 752) 84315 18615 Sal Cash fdow Dividenel Pad Ros Bond C35040 32 9 50 413800 Bu Balance casl

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Answer 2

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