Calculate free cash flow for 2021 for Monarch Textiles, Inc., based on the financial information that follows. Assume that all current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2021.

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Income statement Sales Cost of sales Operating expenses Depreciation Interest expense Earnings before taxes Monarch Textiles, Inc. ($ thousands) Tax Net income 2021 1,100 700 100 50 50 200 80 120 Selected balance sheet items 2020 300 100 Current assets Net fixed assets Current liabilities 200 2021 400 200 280