Comparative financial statement data for Holly Company are given below:

	December 31
	This Year		Last Year
Assets
Cash	$	15.50	$	30.00
Accounts receivable		82.00		75.00
Inventory		132.50		120.80
Total current assets		230.00		225.80
Property, plant, and equipment		279.00		226.00
Less accumulated depreciation		58.40		43.80
Net property, plant, and equipment		220.60		182.20
Total assets	$	450.60	$	408.00
Liabilities and Stockholders Equity
Accounts payable	$	79.50	$	62.00
Common stock		182.00		139.00
Retained earnings		189.10		207.00
Total liabilities and stockholders equity	$	450.60	$	408.00

For this year, the company reported net income as follows:

Sales	$	1,650.00
Cost of goods sold		990.00
Gross margin		660.00
Selling and administrative expenses		640.00
Net income	$	20.00

This year Holly declared and paid a cash dividend. There were no sales of 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. (Amounts to be deducted should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places. Omit the "$" sign in your response.)

Holly Company Statement of Cash Flows For This Year Ended December 31
Operating activities:
(Click to select)Net lossNet income		$
Adjustments to convert net income to a cash basis:
(Click to select)Decrease in accounts payableIncrease in common stockDecrease in accounts receivableIncrease in accounts receivableDepreciationCash dividendsDecrease in plant and equipmentIncrease in plant and equipmentIncrease in inventoryIncrease in accounts payableDecrease in common stockDecrease in inventory	$
(Click to select)Decrease in inventoryIncrease in common stockDecrease in accounts receivableCash dividendsDecrease in common stockDecrease in plant and equipmentDepreciationIncrease in accounts receivableIncrease in accounts payableIncrease in inventoryIncrease in plant and equipmentDecrease in accounts payable
(Click to select)Increase in accounts payableCash dividendsIncrease in common stockIncrease in inventoryIncrease in plant and equipmentDepreciationDecrease in common stockDecrease in accounts receivableDecrease in accounts payableDecrease in inventoryIncrease in accounts receivableDecrease in plant and equipment
(Click to select)Decrease in accounts receivableDepreciationDecrease in plant and equipmentIncrease in common stockCash dividendsDecrease in inventoryIncrease in accounts payableDecrease in accounts payableDecrease in common stockIncrease in inventoryIncrease in plant and equipmentIncrease in accounts receivable
Net cash (Click to select)provided byused in operating activities
Investing activities:
(Click to select)Increase in inventoryIncrease in plant and equipmentIncrease in accounts payableDecrease in accounts receivableIncrease in accounts receivableIncrease in common stockCash dividendsDecrease in common stockDecrease in accounts payableDepreciationDecrease in plant and equipmentDecrease in inventory
Net cash (Click to select)provided byused in investing activities
Financing activities:
(Click to select)Increase in plant and equipmentDecrease in accounts receivableIncrease in accounts receivable Cash dividendsIncrease in inventoryDepreciationDecrease in plant and equipmentDecrease in common stockDecrease in inventoryIncrease in accounts payableIncrease in common stockDecrease in accounts payable		`
(Click to select)Increase in plant and equipmentDecrease in inventoryIncrease in accounts payableDecrease in plant and equipmentCash dividendsIncrease in accounts receivable Decrease in accounts payableDepreciationIncrease in common stockDecrease in common stockIncrease in inventoryDecrease in accounts receivable
Net cash (Click to select)provided byused in financing activities
(Click to select)Net increase in cashNet decrease in cash
Cash, December 31 of last year
Cash, December 31 of this year		$

2.	Compute Hollys 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. Omit the "$" sign in your response.)

Free cash flow

$