Below Is a Condensed Version of the Comparative Balance Sheets

Below is a condensed version of the comparative balance sheets for Stiller Corporation for 2011 and 2012:
Additional information:
Investments were sold at a loss (not extraordinary)of $7,000; no equipment was sold; cash dividends paid were $50,000; and net income was $160,000.
Required:
(a)Prepare a statement of cash flows for 2012 for Stiller Corporation.
(b)Calculate the company's free cash flow.

Correct Answer:

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