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The following is a condensed version of the comparative balance sheets for Tamarisk Corporation for the...

The following is a condensed version of the comparative balance sheets for Tamarisk Corporation for the last two years at December 31.

2020

2019

Cash

$ 336,300 $ 148,200

Accounts receivable

342,000 351,500

Investments

98,800 140,600

Equipment

566,200 456,000

Accumulated Depreciation-Equipment

(201,400 ) (169,100 )

Current liabilities

254,600 286,900

Common stock

304,000 304,000

Retained earnings

583,300 336,300


Additional information:

Investments were sold at a loss of $19,000; no equipment was sold; cash dividends paid were $57,000; and net income was $304,000.

1) Prepare a statement of cash flows for 2020 for Tamarisk Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

2) Determine Tamarisk Corporation’s free cash flow.

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