Apex Company prepared the statement of cash flows for the current year that is shown below. Operating activities: Net income 31 Apex Company Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: Depreciation $40,000 $ 21,900 (60,000) Increase in accounts receivable Increase in inventory Decrease in prepaid expenses (26,800) 9,200 Increase in accounts payable 54,000 Decrease in accrued liabilities (10,400) Increase in income taxes payable 4,600 (7,500) Net cash provided by (used in) operating activities 32,500 Investing activities: Proceeds from the sale of equipment 15,000 Loan to Thomas Company (41,200) Additions to plant and equipment (120,900) Net cash provided by (used in) investing activities (147,100) Financing activities: Increase in bonds payable 88,300 Increase in common stock 38,800 Cash dividends (29,680) 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 97,500 (17,100) 27,400 $ 10,300 Required: 4 Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) Free cash flow