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Rodriquez Corporations comparative balance sheets are as follows. Rodriquez Corporation Comparative Balance Sheets December 31...

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Accounting

Rodriquez Corporations comparative balance sheets are as follows.

Rodriquez Corporation

Comparative Balance Sheets

December 31 2022 2021

Cash. $15,200 $17,700

Accounts receivable 25,200 22,300

Investments 20,000 16,000

Equipment 60,000 70,000

Accumulated depreciationequipment (14,000) (10,000)

Total $106,400 $116,000

Accounts payable $14,600 $11,100

Bonds payable 10,000 30,000

Common stock 50,000 45,000

Retained earnings 31,800 29,900

Total $106,400 $116,000

Additional information:

Net income was $18,300. Dividends declared and paid were $16,400.

Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.

No noncash investing and financing activities occurred during 2022.

Bonds were retired at their carrying value. Instructions

a.Prepare a statement of cash flows for 2022 using the indirect method.

b.Compute free cash flow.

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