Financial Accounting 230 Assignment #3 Beta Corporation's comparative balance sheets are presented below. BETA CORPORATION Comparative Balance Sheets December 31 2018 Cash $ 21,570 Accounts receivable 18,200 Land 18,000 Building 70,000 Accumulated depreciation (15.000) Total $112.770 Accounts payable $ 12,370 Common stock 75,000 Retained earnings 25,400 Total $112.770 2017 $ 10,700 23,400 26,000 70,000 (10.000) $120,100 $31,100 69,000 20.000 $120,100 Additional information: 1. Net income was $27,900. Dividends declared and paid were $22,500. 2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $5,900. Instruction (a) Prepare a statement of cash flows for 2018 using the indirect method. (b) Compute free cash flow