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Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Increase in accounts receivable Increase in inventory
Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Increase in accounts receivable Increase in inventory Operating activities: Net income Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: Depreciation $ 21,600 (60,200) (26,400) $ 40,300 Decrease in prepaid expenses 10,000 Increase in accounts payable 53,700 Decrease in accrued liabilities Increase in income taxes payable (10,800) 3,100 Net cash provided by (used in) operating activities (9,000) 31,300 Investing activities: es Proceeds from the sale of equipment 15,500 Loan to Thomas Company Additions to plant and equipment (41,900) (121,400) Net cash provided by (used in) investing activities Financing activities: (147,800) Increase in bonds payable 90,000 Increase in common stock 38,500 Cash dividends (28,500) Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents 100,000 (16,500) 28,500 Ending cash and cash equivalents Required: $ 12,000 Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) Free cash flow
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