80.2K

Verified Solution

Link Copied!

i need help finding B)

Problem 12-07A (Part Level Submission) Presented below are the financial statements of Concord Corporation. Concord Corporation Comparative Balance Sheets December 31 t Property, plant, and i Accumulated precation $99.900 es and stockholders' Equity income payable Bonds payable Retained earnings Concord Corporation Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold 159.500 Selling expenses Amive expenses Income before income income tax expense Additional data: 1. Depreciation expense was $15,750. 2. Dividends declared and paid were $18,000. 5. During the year equipment was sold for $7,650 cash. This equipment cost $16,200 originally and had accumulated depreciation of $8,550 at the time of sale. (a) Your answer is correct. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Concord Corporation Statement of Cash Flows For the Year Ended Cashows from Operating Acties et income Adjustments to reconcile come to et Cash Provided by (a) Your answer is correct. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15, 000).) Concord Corporation Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile et income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Receive Increase in twory Increase in Accounts Payable Decrease in Income Taxes Payable | NetCash Provided by Operating Active 1 3450 Cash Flows from Investing Activities Cash Flows from Financing Activities Payment of Dividende Redemption of Bonds sance of common Stock e 2800 Net Increase in T 135 Cash at Beginning of Period T 18000 Attempts of used (b) Compute free cash flow. (Show a negative free cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Free cash flow

Answer & Explanation Solved by verified expert

See Answer