Below is information from the statement of cash flow and income statement for Garland Products, Inc. for 2012 and 2011. Marketable securities represent investments of excess cash that Garland Products does not need for operations. Garland Products' tax rate is 35%.
Using the above information calculate the amount of free cash flows for common equity shareholders for Garland Products for year 2012 and 2011.
Definitions:
Species
A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.
Cat
A small domesticated carnivorous mammal with soft fur, a short snout, and retractile claws, widely kept as pets or for catching mice.
Animal
An organism that consumes organic material, generally equipped with specialized sensory organs and a nervous system, enabling it to quickly react to environmental cues.
Referent
An object, concept, or entity to which a word, term, or symbol refers.
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