Apex Company prepared the statement of cash flows for the current year that is shown below: Operating activities: Net income Apex Company Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: Depreciation $ 41,800 Increase in accounts receivable $ 21,500 (62,000) Increase in inventory (26,300) Decrease in prepaid expenses 9,900 Increase in accounts payable 53,900 Decrease in accrued liabilities (10,300) Increase in income taxes payable 4,300 (9,000) Net cash provided by (used in) operating activities 32,800 Investing activities: Proceeds from the sale of equipment 14,600 Loan to Thomas Company (40,500) Additions to plant and equipment (120,900) Net cash provided by (used in) investing activities Financing activities: (146,800) Increase in bonds payable Increase in common stock 88,700 38,500 Beginning cash and cash equivalents Cash dividends Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Ending cash and cash equivalents Required: $ 11,600 Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) (29,700) 97,500 (16,500) 28,100 Free cash flow $ (22,800)