Concord Corporation's comparative balance sheets are as follows. CONCORD CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $17,000 $17,500 Accounts receivable 25,300 22,100 Investments 20,250 16,050 Equipment 59,850 70,150 Accumulated depreciation-equipment (13,750) (10,000) Total $108,650 $115,800 Accounts payable $14,550 $11,150 Bonds payable 10,000 30,200 Common stock 50,000 44,800 Retained earnings 34,100) 29,650 Total $108,650 $115,800 Additional information: 1. Net income was $18,450. Dividends declared and paid were $14,000. 2. Equipment which cost $10,300 and had accumulated depreciation of $1,800 was sold for $3,700. 3. No noncash investing and financing activities occurred during 2022. 1. Net income was $18,450. Dividends declared and paid were $14,000. 2. Equipment which cost $10,300 and had accumulated depreciation of $1,800 was sold for $3,700. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. (a) Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000, or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to CONCORD CORPORATION Statement of Cash Flows 3 $ < < $ < < *** (b) Compute free cash flow. (Enter negative amount using either a negative sign preceding the number eg-45 or parentheses eg. (45)) Free cash flow $