Question Details

Miroz Corporation's comparative balance sheets 



Ex. 1
Miroz Corporation's comparative balance sheets are presented below.
MIROZ CORPORATION
Comparative Balance Sheets
December 31
	    2014   	  2013	
	Cash	$ 18,700	$ 22,700
	Accounts receivable 	24,700	22,300
	Investments	25,000	16,000
	Equipment	59,000	70,000
	Accumulated depreciation	  (14,500)	 (10,000)
	     Total	$112,900	$121,000
	Accounts payable 	$  13,600	$11,100
	Bonds payable	      6,000	  30,000
	Common stock	  50,000	45,000
	Retained earnings	    43,300	    34,900
	    Total 	$112,900	$121,000

Additional information:
1.	Net income was $17,700. Dividends declared and paid were $9,300.
2.	Equipment which cost $11,000 and had accumulated depreciation of $2,000 was sold for 	$4,000.
3.	All other changes in noncurrent account balances had a direct effect on cash flows, except 	the change in accumulated depreciation.

Instruction
(a)	Prepare a statement of cash flows for 2014 using the indirect method.
(b)	Compute free cash flow.





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