1. Chicago Corporation issued the following statement of cash flows for 2012.
| Cash flows from operating activities Don't use plagiarized sources. Get Your Custom Essay on chicago corporation issued the following statement of cash flows for 2012 337694 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page | ||
| Net income | $19,000 | |
| Adjustments to reconcile net income to net cash | ||
| provided by operating activities: | ||
| Depreciation expense | $ 8,100 | |
| Loss on disposal of plant assets | 1,300 | |
| Decrease in accounts receivable | 6,900 | |
| Increase in inventory | (4,000) | |
| Decrease in accounts payable | (2,000) | 10,300 |
| Net cash provided by operating activities | 29,300 | |
| Cash flows from investing activities | ||
| Sale of investments | 1,100 | |
| Purchase of equipment | (19,000) | |
| Net cash used by investing activities | (17,900) | |
| Cash flows from financing activities | ||
| Issuance of stock | 10,000 | |
| Payment on long term note payable | (5,000) | |
| Payment for dividends | (9,000) | |
| Net cash used by financing activities | (4,000) | |
| Net increase in cash | 7,400 | |
| Cash at beginning of year | 10,000 | |
| Cash at end of year | $ 17,400 |
(a) Compute free cash flow for Chicago Corporation. (b) Explain why free cash flow
often provides better information than “Net cash provided by operating activities.”
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