Babes Batting Cages projects the following income statement for 2018:

Sales $ 241,745

Operating costs excl.depr. & amort. 140,212

EBITDA 101,533

Depr. & Amort. 16,000

EBIT 85,533

Interest 2,200

EBT 83,333

Taxes (40%) 33,333

Net Income $ 50,000

2018 Balance Sheet Assumptions:

Accounts receivable increase by $5,000

Inventory decreases by $2,000

Accounts payable increases by $2,000

Accruals increase by $1,000

Net fixed assets increase by $20,000

Notes payable increase by $2,500

Long-term debt increases by $20,000

Retained earnings increase by $40,000

Create a cash flow statement for 2018 through the net change in cash. (Show your work; 2 points)

What is the Free Cash Flow for 2018? (Show your work; 1 point)