Free cash flow Dillin Inc. reported the following on the company's statement of cash flows in 20Y2 and 20Y1: 2012 20Y1 Net cash flow from operating activities $475,800 $458,000 Net cash flow used for investing activities (426,000) (380,000) Net cash flow used for financing activities (40,000) (58,000) Eighty percent of the net cash flow used for investing activities was used for the purchase of property, plant, and equipment. a. Determine Dillin's free cash flow for both years. 20Y2 20Y1 Free cash flow b. Has Dillin's free cash flow improved or declined from 20Y1 to 20Y2? Land Transactions on the Statement of Cash Flows IZ Corporation purchased land for $500,000. Later in the year, the company sold a different piece of land with a book value of $250,000 for $280,000.