12 of 26 < > Crane Corporation issued the following statement of cash flows for 2022. CRANE CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: $54,300 Depreciation expense $8,600 Decrease in accounts receivable 9.700 Increase in inventory (4.500) Decrease in accounts payable (2,400) Loss on disposal of plant assets 3,300 14,700 Net cash provided by operating activities 69,000 Cash flows from investing activities Sale of investments Purchase of equipment Net cash used by investing activities 3,400 (26,400) (23,000) Cash flows from financing activities Issuance of common stock 19,600 Payment on long-term note payable (9.800) Payment of cash dividends (13,200) Net cash used by financing activities (3,400) Net increase in cash 42,600 Cash at beginning of year 13,800 Cash at end of year $56,400 Free cash flow