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2012 2011
Cash 12200 17700
Acct receivable 25200 22300
Investments 25000 16000
Equipment 60000 70000
Accum. Depreciation (14000) (10000)
Total 108,400 116000
Acct payable 14600 11100
Bonds payable 10000 30000
Common stock 50000 45000
Retained earning 33800 29900
Total 108400 116000
Additional info:
1. Net income was 17,300. Dividends declared and paid were 13400.
2. Equipment which cost 10000 and had accumulated depreciation of 2200 was sold for 3800
3. All other changes in non current account balance had a direct effect on cash flows, except the change in accumulated depreciation.
Prepare a statement of cash flows for 2012 using the indirect method and compute a free cash flow.
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