question archive Presented below is a condensed version of the comparative balance sheet for Garcia Corporation for the last two years at December 31
Presented below is a condensed version of the comparative balance sheet for Garcia Corporation for the last two years at December 31
Subject:AccountingPrice: Bought3
Presented below is a condensed version of the comparative balance sheet for Garcia Corporation for the last two years at December 31. In the year of 2014, Cash 442,500; Accounts Receivable 450,000; Investments 130,000; Equipment 745,000; Less: Accumulated Depreciation (265,000); Current Liabilities 335,000; Capital Stock 400,000; Retained Earnings 767,500. In the year of 2013, Cash 195,000; Accounts Receivable 462,500; Investments 185,000; Equipment 600,000; Less: Accumulated Depreciation (222,500); Current Liabilities 337,500; Capital Stock 400,000; Retained Earnings 442,500. Additional Informaiton: Investments were sold at a loss (not extraordinary) of $25,000. Cash Dividends were paid $75,000. Net Income was $400,000. Directions: Prepare a statement of Cash Flows for 2012 for Garcia Corporation, and Determine Garcia Corporations Free Cash Flow.
