Exercise 12-3 Calculating Free Cash Flow [LO12-3]

Apex Company prepared the statement of cash flows for the current year that is shown below:

Apex Company Statement of Cash FlowsIndirect Method
Operating activities:
Net income			$	41,400
Adjustments to convert net income to cash basis:
Depreciation	$	21,400
Increase in accounts receivable		(61,000)
Increase in inventory		(25,700)
Decrease in prepaid expenses		10,000
Increase in accounts payable		53,300
Decrease in accrued liabilities		(10,900)
Increase in income taxes payable		3,900		(9,000)
Net cash provided by operating activities				32,400
Investing activities:
Proceeds from the sale of equipment		14,200
Loan to Thomas Company		(40,500)
Additions to plant and equipment		(121,400)
Net cash used for investing activities				(147,700)
Financing activities:
Increase in bonds payable		88,300
Increase in common stock		39,600
Cash dividends		(29,500)
Net cash provided by financing activities				98,400
Net decrease in cash				(16,900)
Beginning cash balance				27,800
Ending cash balance			$	10,900

Required:

Compute Apex Companys free cash flow for the current year. (Negative amount should be indicated by a minus sign.)