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Cash $70,220
Accounts Payable $(53,000)
Accounts Receivable (net) 50,700
Bonds Payable 83,800
Inventory 135,200
Common Stock 125,600
Investments (48,240)
Paid-In Capital in Excess of Par-Common Stock 14,220
Question 1: Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $24,020 which was paid in the current year.
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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