[Cygs25]

Scully Corporation's comparative balance sheet are presented below
2010 2009
Cash $14,300 $10,700
Accounts receivable 21,200 23,400
Land 20,000 26,000
Building 70,000 70,000
Accumulated depreciation (15,000) (10,000)
Total $110,500 $120,100

Accounts payable $12,370 $31,100
Common stock 75,000 69,000
Retained earnings 23,130 20,000
Total $110,500 $120,100


Additional information:
1) Net income was $22,630. Dividends declared and paid were $19,500.
2) All other changes in noncurrent account balances had a direct effect on cash flows, except the changes in accumulated depreciation. The land was sold for $4,900.


Instructions:
A) Prepare a statement of cash flows for 2010 using the indirect method.
B) Compute free cash flow.

[Curlyben]

Thank you for taking the time to copy your homework to AMHD.
Please refer to this announcement: https://www.askmehelpdesk.com/financ...-b-u-font.html

[Cygs25]

I am lost, heck change the numbers around. I have tried to do this myself and faild. I am trying, but this is the only area I don't understand. I am an online student and I don't have the help a normal student would have access too. And I didn't copy paste, I did type it in by hand. Just any help in the right direction would be better than not knowing what I am doing. I also have the book, but its not a lot of help to me at this point. Thanks

[morgaine300]

You took "copy" to mean "copy & paste"? Typing it by hand is still making a copy of it - there was a time when scribes would make copies of things, long, long before we had computers.

Here's an online text, which may or may not be better than yours:
Principles of Accounting Chapter 16

I would like to make comment on the organization of it. It goes through the direct method first, which is not what you're doing. However, it then continues right on through the investing and financing sections. Following that is the indirect method. There is no "indirect" method for investing and financing, so you'll have to go through those sections which appear to be under direct but are not. (Direct/indirect only refers to the operating section. The other two are always done direct. Books are never too clear on that point.)

Give it a shot. Keep in mind you can post whatever you've attempted and someone will take a look at it.