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Exercise 13-7 Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December...

Exercise 13-7

Rojas Corporation’s comparative balance sheets are presented below.

ROJAS CORPORATION
Comparative Balance Sheets
December 31
2017
2016
Cash
$ 15,000
$ 10,200
Accounts receivable
21,400
23,800
Land
19,800
26,400
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,300
)
(10,800
)
   Total
$111,000

$119,700


Accounts payable
$ 12,800
$ 27,800
Common stock
74,600
73,400
Retained earnings
23,600

18,500

   Total
$111,000

$119,700


Additional information:

1. Net income was $22,800. Dividends declared and paid were $17,700.
2. No noncash investing and financing activities occurred during 2017.
3. The land was sold for cash of $4,500.

Prepare a statement of cash flows for 2017 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).)

ROJAS CORPORATION
Statement of Cash Flows

For the Month Ended December 31, 2017
For the Year Ended December 31, 2017
December 31, 2017

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
    
Depreciation Expense    
Decrease in Accounts Receivable    
Increase in Accounts Payable    
Gain on Disposal of Land    
Payment of Dividends    
Decrease in Accounts Payable    
Net Income    
Loss on Disposal of Land    
Increase in Accounts Receivable    
Sale of Land    
Issuance of Common Stock    
$
Adjustments to reconcile net income to

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
    
Increase in Accounts Receivable    
Decrease in Accounts Payable    
Increase in Accounts Payable    
Sale of Land    
Issuance of Common Stock    
Payment of Dividends    
Loss on Disposal of Land    
Net Income    
Gain on Disposal of Land    
Depreciation Expense    
Decrease in Accounts Receivable    
$
    
Net Income    
Depreciation Expense    
Loss on Disposal of Land    
Increase in Accounts Receivable    
Decrease in Accounts Receivable    
Decrease in Accounts Payable    
Payment of Dividends    
Increase in Accounts Payable    
Sale of Land    
Issuance of Common Stock    
Gain on Disposal of Land    
    
Increase in Accounts Receivable    
Payment of Dividends    
Gain on Disposal of Land    
Net Income    
Depreciation Expense    
Issuance of Common Stock    
Loss on Disposal of Land    
Decrease in Accounts Receivable    
Decrease in Accounts Payable    
Increase in Accounts Payable    
Sale of Land    
    
Depreciation Expense    
Increase in Accounts Receivable    
Increase in Accounts Payable    
Decrease in Accounts Payable    
Sale of Land    
Net Income    
Issuance of Common Stock    
Loss on Disposal of Land    
Payment of Dividends    
Decrease in Accounts Receivable    
Gain on Disposal of Land    
    
Cash at Beginning of Period    
Cash at End of Period    
Cash Flows from Financing Activities    
Cash Flows from Investing Activities    
Cash Flows from Operating Activities    
Net Cash Provided by Financing Activities    
Net Cash Provided by Investing Activities    
Net Cash Provided by Operating Activities    
Net Cash Used by Financing Activities    
Net Cash Used by Investing Activities    
Net Cash Used by Operating Activities    
Net Decrease in Cash    
Net Increase in Cash    

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
    
Increase in Accounts Receivable    
Net Income    
Increase in Accounts Payable    
Sale of Land    
Issuance of Common Stock    
Gain on Disposal of Land    
Depreciation Expense    
Payment of Dividends    
Decrease in Accounts Payable    
Loss on Disposal of Land    
Decrease in Accounts Receivable    

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
    
Increase in Accounts Receivable    
Decrease in Accounts Payable    
Depreciation Expense    
Decrease in Accounts Receivable    
Payment of Dividends    
Loss on Disposal of Land    
Increase in Accounts Payable    
Issuance of Common Stock    
Sale of Land    
Gain on Disposal of Land    
Net Income    
$
    
Increase in Accounts Payable    
Gain on Disposal of Land    
Increase in Accounts Receivable    
Decrease in Accounts Payable    
Sale of Land    
Loss on Disposal of Land    
Net Income    
Issuance of Common Stock    
Payment of Dividends    
Depreciation Expense    
Decrease in Accounts Receivable    
    
Cash at Beginning of Period    
Cash at End of Period    
Cash Flows from Financing Activities    
Cash Flows from Investing Activities    
Cash Flows from Operating Activities    
Net Cash Provided by Financing Activities    
Net Cash Provided by Investing Activities    
Net Cash Provided by Operating Activities    
Net Cash Used by Financing Activities    
Net Cash Used by Investing Activities    
Net Cash Used by Operating Activities    
Net Decrease in Cash    
Net Increase in Cash    

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash

Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
$


LINK TO TEXT
LINK TO TEXT

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
$

Solutions

Expert Solution

ekkarill92 answered 3 years ago
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