Compute free cash flow

Blossom Company Comparative Balance Sheets December 31 Assets 2022 Cash $ 98,000 Accounts receivable 56,000 Inventory 78,400 Property, plant, and equipment 168,000 Accumulated depreciation (89,600 ) Total $310,800 2021 $ 56,000 39,200 56,000 218,400 (67,200 ) $302,400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $ 53,200 19,600 47,600 50,400 140,000 $310,800 $ 42,000 22,400 92,400 39,200 106,400 $302,400 Blossom Company Income Statement For the Year Ended December 31, 2022 $677,600 490,000 187,600 $50,400 16,800 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income 67,200 120,400 8,400 112,000 22,400 $ 89,600 Additional data: 1. Depreciation expense was $49,000. 2. Dividends declared and paid were $56,000. 3. During the year equipment was sold for $23,800 cash. This equipment cost $50,400 originally and had accumulated depreciation of $26,600 at the time of sale. (b) * Your answer is incorrect. Try again. Compute free cash flow. (Show a negative free cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) X Free cash flow