Question
Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Operating activities: Net income Statement of
Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Operating activities: Net income Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: $ 40,400 Depreciation Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable $ 21,400 (60,300) (26,900) 10,900 53,800 (11,200) 4,200 Net cash provided by (used in) operating activities Investing activities: (8,100) 32,300 Proceeds from the sale of equipment Loan to Thomas Company 14,900 (40,200) Additions to plant and equipment (120,900) Net cash provided by (used in) investing activities Financing activities: (146,200) Increase in bonds payable 89,000 Increase in common stock 40,000 Cash dividends (28,900) Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents 100,100 (13,800) Beginning cash and cash equivalents 28,300 $ 14,500 Ending cash and cash equivalents Required: Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.)
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