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  3. additional data: 1. depreciation expense was $1

Additional data: 1. Depreciation expense was $16,000. 2....

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Accounting

Additional data:
1. Depreciation expense was $16,000.
2. Dividends declared and paid were $21,780.
3. During the year, equipment was sold for $8,800 cash. This equipment originally cost $18,400 and had accumulated
depreciation of $9,600at the time of sale.
5onds were redeemed at their carrying value.
Further analysis reveals the following.
Accounts payable pertain to merchandise suppliers.
All operating expenses except for depreciation were paid in cash.
All depreciation expense is in the selling expense category.
All sales and inventory purchases are on account.
Prepare a statement of cash flows for Crane Company using the direct method. (Show amounts that decrease cash flow with either a
sign e.g.-15,000 or in parenthesis e.g.(15,000).)
CRANE COMPANY
cash payments:
(b)
Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45).)
Free cash flow $
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