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Compute free cash flow and prepare a statement of cash flows

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Reference no: EM13492086

Cassandra Corporation
Comparative Balance Sheets
December 31

2291_Prepare a statement of cash flows.png

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

Reference no: EM13492086

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