Miroz Corporation's Comparative Balance Sheets Are Presented Below

question 145

Essay

Miroz Corporation's comparative balance sheets are presented below.
MIROZ CORPORATION
Comparative Balance Sheets Additional information:
1. Net income was $17,700. Dividends declared and paid were $9,300.
2. Equipment which cost $11,000 and had accumulated depreciation of $2,000 was sold for $4,000.
3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.
Instruction
(a) Prepare a statement of cash flows for 2017 using the indirect method.
(b) Compute free cash flow.

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Definitions:

Compulsory License

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Industrial Design

The professional practice of designing products used by millions of consumers around the world, focusing on the physical appearance, functionality, and manufacturability of the product.

Exclusive Distributor

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Trademark

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