Please do not give solution in image format thanku Vaughn ManufacturingIncome StatementFor the Year Ended December 31, 2017Sales revenueCost of goods soldGross profitSelling expensesAdministrative expensesIncome from operationsInterest expenseIncome before income taxesIncome tax expenseNet incomeAdditional data:$30,60010,200$411,400297,500113,90040,80073,1005,10068,00013,600$54,4001. Depreciation expense was $29,750.2. Dividends declared and paid were $34,000.3. During the year equipment was sold for $14,450 cash. This equipment cost $30,600 originally and had accumulated depreciation of $16,150 at the time of sale.1). Prepare a statement of cash flows using the indirect method.2.) Compute free cash flow. Presented below are the financial statements of Vaughn Manufacturing.AssetsCashAccounts receivableVaughn ManufacturingComparative Balance SheetsDecember 31InventoryProperty, plant, and equipmentAccumulated depreciationTotalLiabilities and Stockholders' EquityAccounts payableIncome taxes payableBonds payableCommon stockRetained earningsTotal2017$59,50034,00047,600102,000132,600(54,400) (40,800)$188,700 $183,600$32,30011,900201628,900$ 34,00023,80034,000$ 25,50013,60056,10023,80030,60085,000$188,700 $183,60064,600

A cash flow statement is a financial statement that includes the inflow and outflow of cash during…

Answered: 1). Prepare a statement of cash flows…

Business

Accounting

1). Prepare a statement of cash flows using the indirect method. 2.) Compute free cash flow.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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