• 100% Satisfaction Guarantee

Manal Elkhoshkhany, Tutor
Category: Homework
Satisfied Customers: 9725
Experience:  More than 5000 online tutoring sessions.
3708793
Manal Elkhoshkhany is online now

# Prepare a Statement of Cash Flows (Indirect Method)

### Resolved Question:

Prepare a Statement of Cash Flows (Indirect Method); Free Cash Flow [LO2, LO3, LO4] Balance sheet accounts for Joyner Company contained the following amounts at the end of Years 1 and 2:

The company’s income statement for Year 2 follows: Equipment that had cost \$40,000 and on which there was accumulated depreciation of \$30,000 was sold during Year 2 for \$18,000. Cash dividends totaling \$15,000 were declared and paid during Year 2. Sales . . . . . . . . . . . . . . . . . . . \$900,000 Cost of goods sold . . . . . . . . . 500,000 Gross margin . . . . . . . . . . . . . 400,000 Selling and administrative expenses . . . . . . . . . . . . . . 328,000 Net operating income . . . . . . . 72,000 Gain on sale of equipment . . . 8,000 Income before taxes . . . . . . . . 80,000 Income taxes . . . . . . . . . . . . . 24,000 Net income . . . . . . . . . . . . . . . \$ 56,000 Required: 1. Using the indirect method, compute the net cash provided by operating activities for Year 2. 2. Prepare a statement of cash flows for Year 2. 3. Compute the free cash f ow for Year 2. 4. Briefly explain why cash declined so sharply during the year.
Submitted: 4 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 4 years ago.

Hello and welcome to JA

http://www.mediafire.com/?f70t9u670zn8jgi

P.S. If you like my services, please feel free to direct your future posts to me specifically by typing "For BusinessTutor" at the beginning of your post. Should you choose to do this, please try to allow me 48 hours before the deadline. If you need to meet me online for a timed assignment, please advise me of the date and time (EST) you want me to meet you here and I will. Please make sure you take the length (and number) of the questions into consideration when making your offer to avoid delays in providing solutions.

Thank you

Customer: replied 4 years ago.
Can you put it in excell format?
Expert:  Manal Elkhoshkhany replied 4 years ago.
I can, but it will take me some time as I am helping a couple of students with timed assignments. Do you have an excel template?
Customer: replied 4 years ago.

No sorry. I just need it by Sunday.

Expert:  Manal Elkhoshkhany replied 4 years ago.

ok, you have posted an excel sheet with the data, can you please upload this sheet to www.mediafire.com then copy and paste the share link here?

Thank you

Expert:  Manal Elkhoshkhany replied 4 years ago.

You need to spend \$3 to view this post. Add Funds to your account and buy credits.
Manal Elkhoshkhany, Tutor
Category: Homework
Satisfied Customers: 9725
Experience: More than 5000 online tutoring sessions.

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

### What Customers are Saying:

• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Previous | Next >
• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
• This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
• Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
• I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
• Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
• Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
• He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX

• ### LogicPro

#### Satisfied Customers:

4925
Expert in Java C++ C C# VB Javascript Design SQL HTML
< Last | Next >

### LogicPro

#### Satisfied Customers:

4925
Expert in Java C++ C C# VB Javascript Design SQL HTML

### Manal Elkhoshkhany

#### Satisfied Customers:

4538
More than 5000 online tutoring sessions.

### Linda_us

#### Satisfied Customers:

3138
Post Graduate Diploma in Management (MBA)

### Chris M.

#### Satisfied Customers:

2602
Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)

### F. Naz

#### Satisfied Customers:

2126
Experience with chartered accountancy

### Bizhelp

#### Satisfied Customers:

1887
Bachelors Degree and CPA with Accounting work experience