Crane Shoes comparative balance sheet is presented below. Crane reports under ASPE. CRANE SHOES Balance Sheet December 31 Assets 2021 2020 Cash $34,404 $21,594 Accounts receivable 29,524 27,206 Long-term investments 28,060 19,520 Equipment 73,200 85,400 Accumulated depreciationequipment (17,080 ) (12,200 ) Total $148,108 $141,520 Liabilities and Shareholders Equity Accounts payable $23,912 $13,542 Notes payable 12,200 36,600 Common shares 73,200 54,900 Retained earnings 38,796 36,478 Total $148,108 $141,520 Additional Information: 1. Profit was $34,526. Dividends declared and paid were $32,208. 2. Equipment that cost $12,200 and had accumulated depreciation of $1,464 was sold for $5,246. 3. All other changes in non-current account balances had a direct effect on cash flows, except the change in accumulated depreciation. New attempt is in progress. Some of the new entries may impact the last attempt grading. Your answer is partially correct. Prepare a statement of cash flows for 2021 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).) CRANE SHOES Cash Flow Statement - Indirect Method Year Ended December 31, 2021 Net Cash Used by Operating Activities Profit $ 34526 Adjustments to reconcile profit to Net Cash Provided by Operating Activities Depreciation Expense $ 6344 Loss on Disposal 5490 Increase in Accounts Receivable 2318 Increase in Accounts Payable 10370 19886 Net Cash Provided by Operating Activities 54412 Net Cash Provided by Investing Activities Sale of Equipment $ 5246 Sale of Investments 8540 Net Cash Used by Investing Activities 3294 Net Cash Provided by Financing Activities Payments to Suppliers $ 32208 Repayments of Notes Payable 24400 Issuance of Common Shares 18300 Net Cash Used by Financing Activities 38308 Net Increase in Cash 12810 Cash, Jan. 1 21594 Cash, Dec. 31 $ 34404 Incorrect answer icon Your answer is incorrect. Calculate free cash flow. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Free cash flow $