YOYO Company Comparative Balance Sheets December 31 2008 net income Total $135,0

Question

YOYO Company Comparative Balance Sheets December 31 2008 net income Total $135,000, 2007 $126,000 and the income statement for year ended December 31, 2008 net income $41,000. Additional data: 1. Dividends of $36,000 declared and paid. 2. During the year equipt. was sold for $10,000 cash. Equipt. cost $15,000 originally, bookk value of $10,000 at time of sale. 3. All depreciation expense, $8,000 in selling expense category. 4. All sales & Purchses on account. 5. Additional equipt. purchased for $7,000 cash. (a) Prepare a statement of cash flows using the indirect method. (b) Compute these cash-basis measures: (1) Current cash debt coverage ratio (2) Cash debt coverage ratio (3) Free cash flow

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