FOR FREE CASH FLOW I AHVE TRIED 34100 AND 43600 THEY ARE INCORRECT

The following are the financial statements of Nosker Company NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 $37,400 Cash $19,900 Accounts receivable 32,000 18,800 20,200 Inventory 30,400 Equipment 59,600 78,000 (29,400) (24,000) Accumulated depreciation-equipment $130,000 $112,900 Total Liabilities and Stockholders' Equity $16,200 Accounts payable $28,300 Income taxes payable 7,000 8,500 Bonds payable 27,900 33,500 Common stock 18,700 14,000 Retained earnings 48,100 40,700 $112,900 $130,000 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue $241,800 176,200 Cost of goods sold Gross profit 65,600 23,400 Operating expenses Income from operations 42,200 2,200 Interest expense Income before income taxes 40,000 7,400 Income tax expense $32,600 Net income Additional data: 1. Dividends declared and paid were $25,200 During the year, equipment was sold for $9,500 cash. This equipment cost 2. $18,400 originally and had a book value of $9,500 at the time of sale. 3. All depreciation expense, $14,300, is in the operating expenses 4. All sales and purchases are on account. Further analysis reveals the following 1. Accounts payable pertain to merchandise suppliers 2. All operating expenses except for depreciation were paid in cash Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities 228600.00 Cash Receipts from Customers Less cash payments: (174300.00) To Suppliers |(2200.00) For Interest (9100.00) For Operating Expenses (8900.00) For Income Taxes 34100.00 Net Cash Provided by Operating Activities 34100.00 Cash Flows from Investing Activities 9500.00 Sale of Equipment Net Cash Provided by Investing Activities 9500.00 Cash Flows from Financing Activities (5600.00) Redemption of Bonds 4700.00 Issuance of Common Stock (25200.00) Payment of Dividends (26100.00) Net Cash Used by Financing Activities Net Decrease in Cash 17500.00 Cash at Beginning of Period 19900.00 37400.00 Cash at End of Period Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow 34100.00