(Preparation of a Statement of Cash Flows) Presented below is a condensed version of the comparative balance sheets for Zubin Mehta Corporation for the last two years at December 31. Additional information: Investments were sold at a loss of $10,000; no equipment was sold; cash dividends paid were $30,000; and net income was $160,000. Instructions (a) Prepare a statement of cash flows for 2017 for Zubin Mehta Corporation. (b) Determine Zubin Mehta Corporations free cash flow.
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