Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for…


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Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for… 1 answer below » Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31. 2012 2011 Cash $279,774 $138,996 Accounts receivable 320,760 329,670 Investments 92,664 131,868 Equipment 531,036 427,680 Less: Accumulated depreciation—equipment (188,892 ) (158,598 ) Current liabilities 238,788 269,082 Capital stock 285,120 285,120 Retained earnings 511,434 315,414 Document Preview: View complete question » Exercise 5-15 Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31. 2012 2011 Cash $279,774 $138,996 Accounts receivable 320,760 329,670 Investments 92,664 131,868 Equipment 531,036 427,680 Less: Accumulated depreciation—equipment (188,892 ) (158,598 ) Current liabilities 238,788 269,082 Capital stock 285,120 285,120 Retained earnings 511,434 315,414 Document Preview: Exercise 5-15
Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.
2012
2011
Cash
$279,774
$138,996
Accounts receivable
320,760
329,670
Investments
92,664
131,868
Equipment
531,036
427,680
Less: Accumulated depreciation—equipment
(188,892
)
(158,598
)
Current liabilities
238,788
269,082
Capital stock
285,120
285,120
Retained earnings
511,434
315,414
Additional information: Investments were sold at a loss (not extraordinary) of $12,474; no equipment was sold; cash dividends paid were $89,100; and net income was $285,120. (a) Prepare a statement of cash flows for 2012 for Sondergaard Corporation. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)
SONDERGAARD CORPORATION Statement of Cash Flows For the Year Ended December 31, 2012
$
Adjustments to reconcile net income to
$
 
$
(b) Determine Sondergaard Corporation’s free cash flow.
Free cash flow
$ Attachments: Q-Attachment…..docx Q-Attachment-….docx View less » Aug 01 2015 03:27 PM

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