Compute free cash flow for this year. Current assets:

Cash $ $36,000$ $ $58,200$

Accounts Receivable $249,400237,300$

Inventory $268,900208,600$

Prepaid expenses $21,70040,200$

Total current assets $576,000544,300$

Long$-$term investments $153,000225,000$

Plant and equipment $902,000771,000$

Less accumulated depreciation $220,500196,300$

Net plant and equipment $681,500574,700$

Total assets $ $1,410,500$ $ $1,344,000$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $253,100$ $ $179,200$

Accrued liabilities $10,10019,200$

Income taxes payable $58,80049,500$

Total current liabilities $322,000247,900$

Bonds Payable $263,000142,000$

Total liabilities $585,000389,900$

Stockholders$$ equity:

Common stock $762,500705,000$

Retained earnings $63,000249,100$

Total stockholders' equity $825,500954,100$

Total liabilities and stockholders' equity $ $1,410,500$ $ $1,344,000$

Rusco Company

Income Statement

For This Year Ended July $31$

Sales $ $1,220,000$

Cost of goods sold $762,500$

Gross margin $457,500$

Selling and administrative expenses $326,350$

Net operating income $131,150$

Nonoperating items:

Gain on sale of investments $ $30,500$

Loss on sale of equipment $(10,200)20,300$

Income before taxes $151,450$

Income taxes $45,330$

Net income $ $106,120$

The following additional information is available for this year.

The company declared and paid a cash dividend.

Equipment was sold during the year for $$60,800.$ The equipment originally cost $$132,000$ and had accumulated depreciation of $$61,000.$

Long$-$term investments that cost $$72,000$ were sold during the year for $$102,500.$

The company did not retire any bonds payable or repurchase any of its common stock.