Find the Free cash flow December 31,2020. Please show working.

SWIFTY CORPORATION Statement of Financial Position December 31 December 31 Assets 2020 2019 Cash $ 51,000 $ 1,600 Accounts receivable 91,000 87,800 Equipment 27,800 22,500 Less: Accumulated depreciation (9,800) (10,100) Total $ 160,000 $ 101,800 Liabilities and Shareholders' Equity Accounts payable $ 20,000 $ 10,000 Common shares 100,000 75,300 Retained earnings 40,000 16,500 Total $ 160,000 $ 101,800 Net income of $36,000 was reported and dividends of $12,500 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value of $5,300 (cost of $11,900 and accumulated depreciation of $6,600) was sold for $7,500. (a) Calculate the current ratio and debt to total assets ratio as at December 31, 2019 and 2020. Calculate the free cash flow for December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75.) 2020 2019 Current Ratio 7.10 :1 8.94 :1 Debt to total assets ratio 12.5 % 10.18 % Free cash flow, December 31, 2020 $ 15100