Common shares Retained earnings Total 100,000 (a) 40,000 $160,000 74,200 16,200 $100,400 Net income of $37,200 was reported and dividends of $13,400 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $4,300 (cost of $11,600 and accumulated depreciation of $7,300) was sold for $7,900. Calculate the current ratio and debt to total assets ratio as at December 31, 2022 and 2023. Calculate the free cash flow for December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75. Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)

Common shares Retained earnings Total 100,000 (a) 40,000 $160,000 74,200 16,200 $100,400 Net income of $37,200 was reported and dividends of $13,400 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $4,300 (cost of $11,600 and accumulated depreciation of $7,300) was sold for $7,900. Calculate the current ratio and debt to total assets ratio as at December 31, 2022 and 2023. Calculate the free cash flow for December 31, 2023. (Round answers to 2 decimal places, e.g. 52.75. Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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