Below Is a Condensed Version of the Comparative Balance Sheets

question 23

Essay

Below is a condensed version of the comparative balance sheets for Stiller Corporation for 2011 and 2012:

Additional information:
Investments were sold at a loss (not extraordinary)of $7,000;no equipment was sold;cash dividends paid were $50,000;and net income was $160,000.
Required:
(a)Prepare a statement of cash flows for 2012 for Stiller Corporation.
(b)Calculate the company's free cash flow.

---

Definitions:

Appellate Jurisdiction

The authority of a court to review and revise the judgment or decision of a lower court.

Original Jurisdiction

The authority of a court to hear a case for the first time, as opposed to appellate jurisdiction, which reviews decisions made by lower courts.

Judicial Activism

A judicial philosophy that posits judges should use their power broadly to address societal wrongs and interpret the Constitution in the light of contemporary values and conditions.