Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Statement of Cash FlowsIndirect Method Operating activities: Net income $ 40,300 Adjustments to convert net income to cash basis: Depreciation $ 20,300 Increase in accounts receivable (61,700) Increase in inventory (26,200) Decrease in prepaid expenses 9,900 Increase in accounts payable 53,400 Decrease in accrued liabilities (11,500) Increase in income taxes payable 3,400 (12,400) Net cash provided by (used in) operating activities 27,900 Investing activities: Proceeds from the sale of equipment 14,900 Loan to Thomas Company (40,500) Additions to plant and equipment (120,900) Net cash provided by (used in) investing activities (146,500) Financing activities: Increase in bonds payable 89,500 Increase in common stock 39,200 Cash dividends (29,500) Net cash provided by (used in) financing activities 99,200 Net decrease in cash and cash equivalents (19,400) Beginning cash and cash equivalents 27,900 Ending cash and cash equivalents $ 8,500 Required: Compute Apex Companys free cash flow for the current year.