Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment This Year Last Year $ 18.00 $ 35.00 92.00 85.00 145.00 133.80 255.00 253.80 294.00 62.40 231.60 236.00 46.80 189.201 $ 443.00 $ 486.60 $ 87.00 202.00 197.60 $ 67.00 154.00 222.00 $ 486.60 $ 443.00 Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: Sales $ 1,900.00 Cost of goods sold Gross margin 1,140.00 760.00 Selling and administrative expenses Net income 740.00 $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Carmono Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Net income Adjustments to convert net income to a cash basis: Depreciation Increase in accounts receivable 15.60 (7.00) Increase in inventory Increase in accounts payable. 20.00 Net cash provided by operating activities Investing activities: Net cash provided by investing activities Cinanaian th 28.60 28.60 0.00 9 S Increase in accounts receivable Increase in inventory (7.00) Increase in accounts payable 20.00 28.60 Net cash provided by operating activities 28.60 Investing activities: Net cash provided by investing activities Financing activities: Issuance of common stock Cash dividends Net cash provided by financing activities Net decrease in cash Beginning cash and cash equivalents Ending cash and cash equivalents 48.00 (44.40) 0.00 3.60 32.20 35.00 $ 67.20 Required Required 2 > This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute Carmono's free cash flow for this year. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to 2 decimal places.) Free cash flow < Required 1 Required 2