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Rodriquez Corporation’s comparative balance sheets are presented below: RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2020...

Rodriquez Corporation’s comparative balance sheets are presented below:

RODRIQUEZ CORPORATION
Comparative Balance Sheets
December 31

2020

2019
Cash

$16,700

$17,600
Accounts receivable

24,900

22,000
Investments

19,850

16,250
Equipment

59,950

69,950
Accumulated depreciation—equipment

(14,050

)

(10,300

)
   Total

$107,350

$115,500
Accounts payable

$14,650

$11,050
Bonds payable

10,500

30,000
Common stock

49,900

44,900
Retained earnings

32,300

29,550
   Total

$107,350

$115,500


Additional information:

1. Net income was $18,650. Dividends declared and paid were $15,900.
2. Equipment which cost $10,000 and had accumulated depreciation of $1,700 was sold for $3,400.
3. No noncash investing and financing activities occurred during 2020.

Prepare a statement of cash flows for 2020 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).)

RODRIQUEZ CORPORATION
Statement of Cash Flows
                                                                      For the Year Ended December 31, 2020December 31, 2020For the Month Ended December 31, 2020

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

Free Cash Flow = Net cash provided by operating activities - Dividend paid

Free Cash Flow = $29,700 - $15,900 = $13,800

If you have any query feel free to ask in comment section. Thanks

ekkarill92 answered 2 years ago
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