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Land Problem 3. Statement of Cash Flows (24 marks) Selected financial statement information and additional...

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Land Problem 3. Statement of Cash Flows (24 marks) Selected financial statement information and additional data for Stanislaus Co. isecessated below. Desember 31 2019 2020 Cash 542,000 563,000 Accounts receivable (net) 34,000 151,200 Inventory 158,000 201,500 58,800 21,000 Equipment 504,000 789,600 Accumulated depreciation 184.0001 [115.6001 TOTAL 5772.200 52.110.200 Accounts payable $50,400 $85,000 Notes payable - Short-term 67,200 29,400 Notes payable - Long-term 168,000 302,400 Common stock 420,000 487,200 Retained earnings 205.800 TOTAL Sz72.800 SL110.800 Additional data for 2020: 1. Net income was $235,200. 2. Depreciation was $31,600. 3. Land was sold at its original cost. 4. Dividends of $96,600 were paid. 5. Equipment was purchased for $84,000 cash. 6. A long-term note for $201,600 was used to pay for an equipment purchase. 7. Common stock was issued to pay a $67,200 long-term note payable. 8. Note Payable - short-term is allrelated to purchases of products, not borrowing, Requirements: A) Prepare a statement of cash flows for the year ending December 31, 2020. (21 marks) B) Compute 1. "Current cash debt coverage ratio and 2. "Free cash flow" marks)

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