The following is a condensed version of the comparative balance sheets for Pearl Corporation for the last two years at D

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The Following Is A Condensed Version Of The Comparative Balance Sheets For Pearl Corporation For The Last Two Years At D 1 (59.8 KiB) Viewed 30 times

The following is a condensed version of the comparative balance sheets for Pearl Corporation for the last two years at December 31. Cash Accounts receivable Investments Equipment Accumulated Depreciation-Equipment Current liabilities Common stock Retained earnings Additional information: 2020 $ 371,700 378,000 109,200 625,800 (222,600 ) 281,400 336,000 644,700 2019 $ 163,800 388,500 155,400 504,000 (186,900 ) 317,100 336,000 371,700 Investments were sold at a loss of $21,000; no equipment was sold; cash dividends paid were $63,000; and net income was $336,000.

Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to PEARL CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Net Cash Provided by Operating Activities Depreciation Expense Loss on Sale of Investments Decrease in Accounts Receivable ✓ Decrease in Current Liabilities Net Cash Provided by Operating Activities ✓ $ 35700.00 21000.00 10500.00 (35700.00) $ 336000.00 31500.00 367500.00

Cash Flows from Investing Activities Purchase of Equipment Sale of Investments Net Cash Used by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends Net Increase in Cash Cash at Beginning of Year Cash at End of Year (121800.00) 25200.00 $ (96600.00) (63000.00) 207900.00 163800.00 371700.00

(b) * Your answer is incorrect. Determine Pearl Corporation's free cash flow. Free cash flow $ eTextbook and Media Save for Later 25200.00 Attempts: 1 of 4 used Submit Answer