A corporation reported the following information for years ending 12-31-2008 and 12-31-2007. Use this information to compute free cash flow for the year ended 12-31-2008: DO NOT SHOW DOLLAR SIGNS OR COMMAS. IF YOUR ANSWER IS NEGATIVE PUT A MINUS SIGN IN FRONT OF YOU ANSWER.

12-31-2008 12-31-2007

CASH $2,000 $800

ACCTS RECEIVABLE $900 $700

INVENTORY $1,500 $1,800

NET PLANT/EQUIP $10,000 $7,000

ACCOUNTS PAYABLE $700 $500

ACCRUED WAGES $600 $500

EBIT $2,000 $1,000

DEPRECIATION $100 $80

MTB 40% 40%