Comparative financial statement data for Carmono Company follow: This Year Last Year Assets Cash $ 5.00 $ 9.00 Accounts receivable 40.00 33.00 Inventory 80.00 66.20 Total current assets 125.00 108.20 Property, plant, and equipment 216.00 184.00 Less accumulated depreciation 41.60 31.20 Net property, plant, and equipment 174.40 152.80 Total assets $ 299.40 $ 261.00 Liabilities and Stockholders’ Equity Accounts payable $ 48.00 $ 41.00 Common stock 98.00 76.00 Retained earnings 153.40 144.00 Total liabilities and stockholders’ equity $ 299.40 $ 261.00 For this year, the company reported net income as follows: Sales $ 600.00 Cost of goods sold 360.00 Gross margin 240.00 Selling and administrative expenses 220.00 Net income $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono’s free cash flow for this year.

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."