1. Compute free cash flow.

The following are the financial statements of Nosker Company.

NOSKER COMPANY Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 37,100			$ 20,100
Accounts receivable		32,900			19,500
Inventory		29,900			20,900
Equipment		59,700			77,500
Accumulated depreciationequipment		(29,100	)		(23,400	)
Total		$130,500			$114,600
Liabilities and Stockholders Equity
Accounts payable		$ 28,300			$ 17,000
Income taxes payable		7,000			8,400
Bonds payable		27,300			33,600
Common stock		17,200			14,600
Retained earnings		50,700			41,000
Total		$130,500			$114,600

NOSKER COMPANY Income Statement For the Year Ended December 31, 2017
Sales revenue		$241,100
Cost of goods sold		176,400
Gross profit		64,700
Operating expenses		23,400
Income from operations		41,300
Interest expense		3,600
Income before income taxes		37,700
Income tax expense		8,600
Net income		$ 29,100

Additional data:

1.		Dividends declared and paid were $19,400.
2.		During the year equipment was sold for $9,800 cash. This equipment cost $17,800 originally and had a book value of $8,000 at the time of sale.
3.		All depreciation expense, $13,700, is in the operating expenses.
4.		All sales and purchases are on account.