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: $ 40,900 Depreciation Increase in accounts receivable $ 20,400 (60,500) Increase in inventory (26,200) Decrease in prepaid expenses 10,100 Increase in accounts payable 54,700 Decrease in accrued liabilities (11,900) Increase in income taxes payable 3,900 Net cash provided by (used in) operating activities (9,500) 31,400 Investing activities: Proceeds from the sale of equipment 14,100 Loan to Thomas Company (41,400) Additions to plant and equipment (120,600) Net cash provided by (used in) investing activities (147,900) Financing activities: Increase in bonds payable 89,600 Increase in common stock 39,400 Cash dividends (28,000) Net cash provided by (used in) financing activities Beginning cash and cash equivalents Net decrease in cash and cash equivalents 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.) Free cash flow 101,000 (15,500) 27,300 $ 11,800