Exercise 13-3 Calculating Free Cash Flow [L013-3] Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Statement of Cash Flows-Indirect Method Operating activities: Net income $ 41,000 Adjustments to convert net income to cash basis: Depreciation $ 20,400 Increase in accounts receivable (60,600) (25,900) 9,400 54,000 (10,200) 3,600 Increase in inventory Decrease in prepaid expenses Increase in accounts payable Decrease in accrued liabilities (9,300) 31,700 Increase in income taxes payable Net cash provided by (used in) operating activities Investing activities: Proceeds from the sale of equipment Loan to Thomas Company Additions to plant and equipment Net cash provided by (used in) investing activities Financing activities: Increase in bonds payable Increase in common stock Cash dividends Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash 14,500 (40,800) 120.600) (146,900) 89,800 39,700 (28,500 101,000 (14,200) 27,800 equivalents $ 13,600 Ending cash and cash equivalents Required: Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) Free cash flow