Following is financial statement data for JKL Corporation: For the Year Ended December 31, 2020 Income Statement Sales COGS Gross Margin Operating Expenses Depreciation Expense IBIT IT Expense Net Income 600,000 (300.000) 300,000 (50.000) (25,000) 225,000 (50,000) 175.000 Balance Sheet Items Accounts Receivable Inventory Accounts Payable Income Taxes Payable Equipment Bonds Payable January 1st 55,000 35,000 25,000 10,000 80.000 50.000 December 31st 75,000 30,000 50,000 10,000 90,000 80,000 Cash Dividend Paid 13,000 a. Prepare a Statement of Cash Flows from Operating Activities. b. Calculate Free Cash Flow