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.

Expert Solution

ekkarill92 answered 2 years ago

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