4 of 6 View Policies Current Attempt in Progress. Kingbird Corporation issued the following statement of cash flows for 2022. Kingbird 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: $53,600 Depreciation expense $9,600 Decrease in accounts receivable 8,700 Increase in inventory (4,900 ) Decrease in accounts payable (2,200) Loss on disposal of plant assets 3,200 14,400 Net cash provided by operating activities 68,000 Cash flows from investing activities Sale of investments Purchase of equipment Net cash used by investing activities Cash flows from financing activities Issuance of stock Payment on long term note payable 3,000 (26,400 ) (23,400) 20,300 (10,000) -/1 E Question 4 of 6 Loss on disposal of plant assets 3,200 14.400 Net cash provided by operating activities 68,000 Cash flows from investing activities Sale of investments Purchase of equipment Net cash used by investing activities Cash flows from financing activities 3,000 (26,400) (23,400) Issuance of stock 20,300 Payment on long-term note payable (10,000 ) Payment for dividends (13.300 ) Net cash used by financing activities (3.000 ) Net increase in cash 41.600 Cash at beginning of year 12.500 Cash at end of year $54,100 (a) Compute free cash flow for Kingbird Corporation (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow $ -/1 E