53,200 (18,989) 3,600 (10,980) 29,700 15,000 (41,800) (121,100) Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable Net cash provided by (used in) operating activities Investing activities: Proceeds from the sale of equipment Loan to Thomas Company Additions to plant and equipment Net cash provided by (used in) investing activities Financing activities: Increase in bonds payable Increase in common stock Cash dividends Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents Ending cash and cash equivalents (147,900) 89,000 38,800 (28,400) 99,400 (18,800) 27,600 8,800 $ Required: Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) Free cash flow Statement of Cash Flows-Indirect Method Operating activities: Net income $ 40,600 Adjustments to convert net income to cash basis: Depreciation $ 21,100 Increase in accounts receivable (61,200) Increase in inventory (26,900) Decrease in prepaid expenses 10, 200 Increase in accounts payable 53,200 Decrease in accrued liabilities (10,900) Increase in income taxes payable 3,600 (10,900) Net cash provided by (used in) operating activities 29,700 Investing activities: Proceeds from the sale of equipment 15,000 Loan to Thomas Company (41,800) Additions to plant and equipment (121, 100) Net cash provided by (used in) investing activities Financing activities: (147,900) Increase in bonds payable 89,000 Increase in common stock 38,800 Cash dividends (28,400) Net cash provided by (used in) financing activities 99,400 Net decrease in cash and cash equivalents Beginning cash and cash equivalents (18,800) 27,600 Ending cash and cash equivalents $ 8,800