omparative financial statement data for Carmono Company follow:
This Year Last Year
Assets
Cash and cash equivalents $ $
Accounts receivable
Inventory
Total current assets
Property, plant, and equipment
Less accumulated depreciation
Net property, plant, and equipment
Total assets $ $
Liabilities and Stockholders Equity
Accounts payable $ $
Common stock
Retained earnings
Total liabilities and stockholders equity $ $
For this year, the company reported net income as follows:
Sales $
Cost of goods sold
Gross margin
Selling and administrative expenses
Net income $
This year Carmono paid a cash dividend but it did not sell any property, plant, and equipment or repurchase any of its own stock.
Required:
Using the indirect method, prepare a statement of cash flows for this year.
Compute Carmonos free cash flow for this year.
