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Apex Company prepared the statement of cash flows for the current year that is shown below: Operating activities: Net income Apex Company Statement of
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 $ 21,000 (60,500) (25,400) $ 40,600 Increase in accounts receivable Increase in inventory Decrease in prepaid expenses 9,800 Increase in accounts payable 53,800 Decrease in accrued liabilities (11,900) Increase in income taxes payable 3,100 Net cash provided by (used in) operating activities (10,100) 30,500 Investing activities: Proceeds from the sale of equipment 14,400 Loan to Thomas Company (41,600) Additions to plant and equipment (120,600) Net cash provided by (used in) investing activities (147,800) Financing activities: Increase in bonds payable 88,400 Increase in common stock 39,300 Cash dividends (28,200) Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents 99,500 (17,800) 28,900 Ending cash and cash equivalents $ 11,100 Required: 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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