All I need is to compute the Free Cash Flow

Wildhorse Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 94,500 $ 54,000 Accounts receivable 54,000 37,800 Inventory 75,600 54,000 Property, plant, and equipment 162,000 210,600 Accumulated depreciation (86,400) (64,800) Total $ 299,700 $ 291,600 Liabilities and Stockholders' Equity Accounts payable $ 51,300 $ 40,500 18,900 21,600 Income taxes payable Bonds payable 45,900 89,100 Common stock 48,600 37,800 Retained earnings 135,000 102,600 Total $299,700 $ 291,600 Wildhorse Company Income Statement For the Year Ended December 31, 2022 Sales revenue $ 653,400 Cost of goods sold 472,500 Gross profit 180,900 Selling expenses $ 48,600 Administrative expenses 16,200 64,800 Income from operations 116,100 Interest expense 8,100 Income before income taxes 108,000 Income tax expense 21,600 Net income 86,400 Additional data: Additional data: 1. Depreciation expense was $ 47,250. 2. 3. Dividends declared and paid were $ 54,000. During the year equipment was sold for $ 22,950 cash. This equipment cost $ 48,600 originally and had accumulated depreciation of $ 25,650 at the time of sale. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,000).) Solution : Wildhorse Company statement of cash flows for the recir Ended December 31,2022 (in) Cash Flow from opeociting Activities Net Income 86.400 Adjustment to Reconcile net income Depoeciation Expense 47,250 Increase in Accounts Receivable (16,200) Increase in Inventory (21,600) Increase in Accounts Payable 10.800 Decrease in Income taxes Payable (2,700) 17,550 Not cash flow from operating Activities 103,950 Cash Flow from Investing He kivities Sales of equipment 22,950 Cash flow from financing Activities: Redemption of Bonds (43,200) 18gue of common stock 10,800 Payment of dividend (54,000) Net Cash flow from financing activities (86,400) Net Increase in cash 40,500 (+) Cash at Beginning of the period 54,000 cash at End of period g 4.500