Additional data: 1. Depreciation expense was $17,100. 2. Dividends declared and paid were $22,580. 3. During the year, equipment was sold for $6,700 cash. This equipment originally cost $18,200 and had accumulated depreciation of $11,500 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. SUNLAND COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $30480 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment $ 17100 \begin{tabular}{r} \hline-14800 \\ \hline-10600 \\ \hline 11800 \\ \hline-700 \\ \hline \end{tabular} 2800 Net Cash Provided by Operating Activities 33280 Cash Flows from Investing Activities Sale of Equipment 6700 Net Cash Provided by Investing Activities 6700 Cash Flows from Financing Activities Redemption of Bonds 4900 Payment of Dividends 22580 Issuance of Common Stock 4400 Net Cash Used by Financing Activities 23080 Net Increase in Cash 16900 Cash at Beginning of Period \begin{tabular}{r} \hline 16900 \\ \hline \\ \hline 20500 \\ \hline 37400 \\ \hline \end{tabular} Cash at End of Period \begin{tabular}{|c|c|} \hline & -23080 \\ \hline & 16900 \\ \hline & 20500 \\ \hline$ & 37400 \\ \hline \end{tabular} eTextbook and Media Presented here are the financial statements of Sunland Company. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{c} SUNLAND COMPANY \\ Comparative Balance Sheets \\ December 31 \end{tabular}} \\ \hline Assets & 2022 & 2021 \\ \hline Cash & $37,400 & $20,500 \\ \hline Accounts receivable & 32,900 & 18,100 \\ \hline Inventory & 30,600 & 20,000 \\ \hline Property, plant, and equipment & 59,700 & 77,900 \\ \hline Accumulated depreciation & (29,100) & (23,500) \\ \hline Total & $131,500 & $113,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline Accounts payable & $28,300 & $16,500 \\ \hline Income taxes payable & 7,500 & 8,200 \\ \hline Bonds payable & 27,900 & 32,800 \\ \hline Common stock & 18,600 & 14,200 \\ \hline Retained earnings & 49,200 & 41,300 \\ \hline Total & $131,500 & $113,000 \\ \hline \end{tabular} SUNLAND COMPANY Income Statement Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free Cash Flow $