CONCORD CORP Statement of Financial Position March 31, 2024 Assets 2024 2023 Cash $360,520 $132,520 Accounts Receivable 182,600 355,100 Short-Term Investments 455,400 320,300 Inventory 2,336,500 2,097,200 Property, Plant, and Equipment 875,800 795,800 Less: Accumulated Depreciation (761,400) (568,900) Patents, net 197,000 218,900 $3,350,920 Total Assets $3.646,420 Liabilities and Shareholders' Equity Accounts Payable Other Accrued Payables Dividends Payable Income Taxes Payable $396,900 165,800 $260,700 245,000 81,400 75,800 32,700 41,400Note Payable (Long-Term) 181,400 567,300 Bonds Payable 905,200 397,300 Common Shares 1,600,000 1,600,000 Retained Earnings 283,020 163,420 Total Liabilities & Shareholders' Equity $3,646,420 $3,350,920 Concord Crporation Statement of Cash Flows For the Year Ended March 31,2024 Cash flows from operating activities Net Income $165,200 Add: Depreciation-capital assets 192,500 Amortization-patents 21,900 Loss on sale of land 100,000 Decrease in accounts receivable 172,500 Increase in accounts payable 136,200 Less: Increase in inventory (239,300) Decrease in income taxes payable (8,700) Decrease in other accrued oavables (79200)Cash from operating activities $461,100 Cash flows from investing activities Proceeds from sale of land 220,000 Purchase of short-term investments (135,100) Purchase of equipment (400,000) Cash for investing activities (315,100) Cash flows from financing activities Proceeds from sale of bonds 507,900 Payment on notes payable (385,900) Payment of cash dividends (common shares) (40,000) Cash from financing activities 82,000 Net change in cash 228,000 Cash balance, April 1, 2023 132,520 Cash balance, March 31, 2024 $360,520 Calculate the operating cash flow ratio and net free cash flow. (Round operating cash flow ratio answer to 2 decimal places, e.g.52.29) Operating cash flow Free cash flow $________