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:
Bank Loan
A sum of money lent at interest by a bank to a borrower, usually on collateral security, for a certain period.
Collection Float
The time period between when a check is deposited and when the funds are made available.
Chequing Account
A bank account from which money can be withdrawn without notice, typically used for day-to-day spending and bill payments.
Deposit
A deposit refers to a sum of money placed into an account or given to another party as security for future transactions, often used in banking, leasing, and rental agreements.
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