Exercise 13-3 Calculating Free Cash Flow (LO13-3] 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 $ 41,100 Adjustments to convert net income to cash basis: Depreciation $ 20,900 Increase in accounts receivable (60,500) Increase in inventory (26,400) Decrease in prepaid expenses 9,400 Increase in accounts payable 54,600 Decrease in accrued liabilities (11,200) Increase in income taxes payable 3,700 (9,500) Net cash provided by (used in) operating 31,600 activities Investing activities: Proceeds from the sale of equipment 14,700 Loan to Thomas Company (41,600) Additions to plant and equipment (121,400) Net cash provided by (used in) investing activities (148,300) Financing activities: Increase in bonds payable 89,500 Increase in common stock 39,500 Cash dividends (28,200) Net cash provided by (used in) financing activities 100,800 Net decrease in cash and cash equivalents (15,900) Beginning cash and cash equivalents 27,600 Ending cash and cash equivalents $ 11,700 Required: Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sig Free cash flow