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Cassandra CorporationComparative Balance SheetsDecember 31
Additional Information:
1. Net income was $18,300. Dividends declared and paid were $14,600
2. Equipment which cost $10,000 and had accumulated depreciation of $1,800 was sold for $3,500.
3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.
Instructions
a. Prepare a statement of cash flows for 2014 using the indirect method.
b. Compute free cash flow
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