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ACC 291 Week 5 Exercise E12-3, E12-10 NEW WORK

ACC 291 Week 5 Exercise E12-3, E12-10 NEW WORK
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  • ACC 291 Week 5 Exercise E12-3, E12-9.docx

ACC 291 Week 5 Exercise E12-3, E12-10 NEW

Prepare the operating activities section—indirect method.
E12-3 Sosa Company reported net income of $190,000 for 2017. Sosa also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 increase in prepaid expenses.
Instructions
Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method.
Compare free cash flow of two companies.
 
 
E12-10 Information for two companies in the same industry, Merrill Corporation and Wingate Corporation, is presented here.
   Merrill Corporation  Wingate Corporation
Net cash provided by operating activities  $ 80,000  $100,000
Average current liabilities   50,000   100,000
Net income   200,000   200,000
Capital expenditures   40,000   70,000
Dividends paid   5,000   10,000
Instructions
Compute free cash flow for both companies and compare.

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