Rodriquez Corporationâs comparative balance sheets are presented below.
1. Net income was $18,300. Dividends declared and paid were $16,400.
2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.
3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.
(a) Prepare a statement of cash flows for 2014 using the indirect method.
(b) Compute free cashflow.