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Compute free cash flow for sheridan company

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Reference no: EM131783182

Sheridan Company issued the following statement of cash flows for 2017.

Sheridan Company
Statement of Cash Flows-Indirect Method
For the Year Ended December 31, 2017
Cash flows from operating activities
  Net income $199,066
  Adjustments to reconcile net income to net cash
    provided by operating activities:
    Depreciation expense mce_markernbsp;30,703
    Decrease in accounts receivable 32,053
    Increase in inventory (16,870)
    Decrease in accounts payable (7,423)
    Loss on disposal of plant assets 11,134   49,597  
       Net cash provided by operating activities 248,663
Cash flows from investing activities
  Sale of investments 10,459
  Purchase of equipment (81,651)
       Net cash used by investing activities (71,192)
Cash flows from financing activities
  Issuance of stock 67,480
  Payment on long-term note payable (33,740)
  Payment for dividends (43,862)
       Net cash used by financing activities (10,122)
Net increase in cash 167,349
Cash at beginning of year 43,862  
Cash at end of year $211,211  

(a) Compute free cash flow for Sheridan Company.

Reference no: EM131783182

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