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E13-9 Cassandra Corporation’s comparative balance sheets are presented below. Cassandra… 1 answer below » E13-9 Cassandra Corporation’s comparative balance sheets are presented below. Cassandra Corporation Comparative Balance Sheets December 31 2014 2013 Cash $ 17,000 $ 17,700 Accounts receivable 25,200 22,300 Investments 20,000 16,000 Equipment 60,000 70,000 Accumulated depreciation—equipment (14,000) (10,000) Total $108,200 $116,000 View complete question » E13-9 Cassandra Corporation’s comparative balance sheets are presented below. Cassandra Corporation Comparative Balance Sheets December 31 2014 2013 Cash $ 17,000 $ 17,700 Accounts receivable 25,200 22,300 Investments 20,000 16,000 Equipment 60,000 70,000 Accumulated depreciation—equipment (14,000) (10,000) Total $108,200 $116,000 Accounts payable $ 14,600 $ 11,100 Bonds payable 10,000 30,000 Common stock 50,000 45,000 Retained earnings 33,600 29,900 Total $108,200 $116,000 Additional information: 1. Net income was $18,300. Dividends declared and paid were $14,600. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,800 was sold for $3,500. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. Instructions (a) Prepare a statement of cash flows for 2014 using the indirect method. (b) Compute free cash flow. View less » Nov 30 2015 04:51 PM
