1.

Apex Company prepared the statement of cash flows for the current year that is shown below:

Apex Company Statement of Cash FlowsIndirect Method
Operating activities:
Net income				$	40,000
Adjustments to convert net income to cash basis:
Depreciation	$	20,900
Increase in accounts receivable		(61,800	)
Increase in inventory		(26,600	)
Decrease in prepaid expenses		10,500
Increase in accounts payable		53,800
Decrease in accrued liabilities		(10,200	)
Increase in income taxes payable		3,200			(10,200	)
Net cash provided by (used in) operating activities					29,800
Investing activities:
Proceeds from the sale of equipment		15,700
Loan to Thomas Company		(40,200	)
Additions to plant and equipment		(120,700	)
Net cash provided by (used in) investing activities					(145,200	)
Financing activities:
Increase in bonds payable		88,700
Increase in common stock		39,500
Cash dividends		(29,000	)
Net cash provided by (used in) financing activities					99,200
Net decrease in cash and cash equivalents					(16,200	)
Beginning cash and cash equivalents					27,100
Ending cash and cash equivalents				$	10,900

Required:

Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)