Do It! Review 13-3 Obermeyer Corporation issued the following statement of cash flows for 2015 OBERMEYER CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2015 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: $59,660 Depreciation expense Loss on disposal of equipment Increase in inventory Decrease in accounts receivable Decrease in accounts payable $8,940 9,650 (4,860) 3,210 (2,180) 14,760 74,420 Net cash provided by operating activities Cash flows from investing activities Sale of investments Purchase of equipment 3,270 27,070 Net cash used by investing activities (23,800) Cash flows from financing activities 18,900 (10,360) 16,690 Issuance of stock Payment on long-term note payable Payment for dividends Net cash used by financing activities 8,150 42,470 12,810 Net increase in cash Cash at beginning of year Cash at end of year Compute free cash flow for Obermeyer Corporation Free cash flow for Obermeyer Corporation