For the Year Ended December 31, 2017 3 525,140 379,750 45.390 Cost of goods sold Gross proft Selling expenses Administrative expenses13052080 Income from operations interest expense income before income taxes income tax expense 39060 6510 86.800 17.360 $ 69.440 Additional data: 1 Depreclation expense was $ 37.975 2. Dividends declared and paid were $ 43,400 . During the year equipment was sold for $ 18445 cash. This equipment cost s 39,060 oniginally and had accumulated depreciation of $ 20.615 at the time of sa Your answer is partialy correct 9 0 backs delaCATE-Delaware County CorxO 122 DUE 11g Assessment layer Presented below are the financial statements of Splish Brothers Company Splish Brothers Company Comparative Balance Sheets December 31 2017 2016 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $ 75,950 $43,400 43.400 30,380 60,760 43,400 130,200 169.260 69440) (52,080) $240870 $234.360 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings s 41.230 $ 32.550 15,190 17.360 36890 71,610 39,060 30.380 108500 82.460 240870 $234,360 Splish Brothers Company Income Statement 0 Type here to search 2 3 4 5 6 7 8 9 del-GATE. Delaware County Co sc | 1zzon 1/18/19 G Asement Player Statement of Cash Flows ar Ended December 31, 2017 Cash Flows from Operating Activitis 9 440 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Increave in Accounes Receivalble Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Depreciation Experse 130200 (17,360) 8680 21700 37.975 14105 Net Cash Provided by Operating Activities 83,545 Cash Flows from Investing Actvities Sale of Equipment 18.445 40 2 3 5 8 9 0 delaGATE Delamare County CoX122 DUE 1/1819 Assesment layer 0 e https://assessmenteducationwley.com/wpngapwl/M/s Cash Flows from Financing Activities Issuance of Common Stock Redemption of Bonds Payment of Dividends Net Canh used by Financing Activities 34720 43400 17.360 Net Increane in Cash Cash at Bepinning of Periosd Cash at End of Period 32.550 X Youranswer is incorrect. Compute free cash flow.(Show a negative free cash flow wilth either a-sigm es-15,000 or in parenthesis es- 115.000) Free cash flow$ 40 2 8 9 0 backs