The Following Selected Financial Statement Information Is for Stevens Company $\quad$

question 30

Essay

The following selected financial statement information is for Stevens Company.
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text { December } 31$$\begin{array}{lrr}&2017&2016\\\text { Current Assets }\\\text { Cash } & \$ 86,000 & \$ 71,000 \\\text { Accounts receivable } & 24,000 & 20,000 \\\text { Merchandise inventory } & 20,000 & 27,000 \\\text { Prepaid expenses } & 10,000 & 8,000\\\\\text { Current Liabilities }\\\text { Accounts payable } & 41,000 & 44,000 \\\text { Income taxes payable } & 6,000 & 11,000\\\\\text { Other data for the Year Ended December 31, 2017}\\\text { From the income statement:}\\\text { Net income } & \$ 146,000 \\\text { Depreciation expense } & 32,000 \\\text { Loss on sale of equipment } & 9,000\\\\\text { From accounting records: }\\\text { Capital expenditures}&44,000\end{array}$
a.Using the indirect method,prepare the operating activities section of the statement of cash flows for Stevens Company for the year ended December 31,2017.
b.Calculate the following cash measures:
(1)Operating cash flow ratio (round to the nearest tenth of a percent).
(2)Capital expenditure ratio (round to the nearest tenth of a percent).
(3)Free cash flow.

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Definitions:

Benchmarking

Selecting a demonstrated standard of performance that represents the very best performance for a process or an activity.

Divisions

Separate sections or branches of an organization, each responsible for specific operations or functions within the larger entity.

American Society For Quality

An organization dedicated to promoting and advancing quality tools, principles, and practices in workplaces and communities around the world.

ISO 9000

A set of quality standards developed by the International Organization for Standardization (ISO).