Depreciation Increase in accounts receivable Increase in inventory Apex Company prepared the statement of cash flows for the current year that is shown below: Operating activities: Net income Apex Company Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: $ 20,300 (60,600) (25,800) $ 40,000 Decrease in prepaid expenses 10,200 Increase in accounts payable 55,000. Decrease in accrued liabilities (10,900) Increase in income taxes payable 4,400 Net cash provided by (used in) operating activities (7,400) 32,600 Investing activities: Proceeds from the sale of equipment 14,100 Loan to Thomas Company (40,200) Additions to plant and equipment (120,800) Net cash provided by (used in) investing activities (146,900) Financing activities: Increase in bonds payable 89,500 Increase in common stock 39,000 Cash dividends (29,100) Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents 99,400 (14,900)) 27,400 $ 12,500 Ending cash and cash equivalents Required: Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a Free cash flow