Question 1 Rojas Corporation\'s comparative balance sheets are presented below R

Question

Question 1 Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets December 31 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $15,200 $10,600 20,700 20,300 69,900 23,500 26,300 69,900 (14,800) (10,500) Total $111,300 $119,800 Accounts payable Common stock Retained earnings $11,800 75,900 23,600 $28,300 71,600 19,900 111,300 $119,800 Total Additional information: 1. Net income was $23,100. Dividends declared and paid were $19,400 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,500

Explanation / Answer

Statement of Cash Flow Particulars Amount Total Amount Income            23,100.00 Loss on sale of land              1,500.00 Depreciation              4,300.00 Decrease in AR              2,800.00 Decrease in AP         (16,500.00) Cash flow from operating activities            15,200.00 Cash flow from Investing activities Sale of Land              4,500.00 Cash flow from Investing activities              4,500.00 Cash flow from Financing activities Issue of Stock              4,300.00 Dividends Paid         (19,400.00) Cash flow from Financing activities         (15,100.00) net change in cash and cash equivalents              4,600.00 Opening cash and cash equivalents            10,600.00 Closing cash and cash equivalents            15,200.00 Free Cash Flow            15,200.00

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