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ACC 291 Week 5 Exercise E12-3, E12-10 Updated

ACC 291 Week 5 Exercise E12-3, E12-10 Updated
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ACC 291 Week 5 Exercise E12-3, E12-10 NEW

Prepare the operating activities section—indirect method.
E12-3 Sosa Company reported net income of $190,000 for 2017. Sosa also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method.
Compare free cash flow of two companies.
E12-10 Information for two companies in the same industry, Merrill Corporation and Wingate Corporation, is presented here.
   Merrill Corporation  Wingate Corporation
Net cash provided by operating activities  $ 80,000  $100,000
Average current liabilities   50,000   100,000
Net income   200,000   200,000
Capital expenditures   40,000   70,000
Dividends paid   5,000   10,000
Compute free cash flow for both companies and compare.

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