) Here are comparative balance sheets for Jeffrey Company. JEFFREY COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventories Land Equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Bonds payable 2022 2021 $ 7,300 $ 2,200 8,700 7,600 17,000 19,100 7,200 10,000 26,000 (6,600) 20,000 (3,200) $ 59,600 $ 55,700 $ 3,700 $ 4,700 15,000 21,000 21,600 17,400 19,300 12,600 $ 59,600 $55,700 Common stock ($1 par) Retained earnings Total Additional information: 1. Net income for 2022 was $10,000. 2. Cash dividends of $3,300 were declared and paid. 3. Bonds payable amounting to $6,000 were redeemed for cash $6,000. 4. Common stock was issued for $4,200 cash. 5. Equipment that cost $5,000 and had a book value of $3,000 was sold for $3,600 during 2022; land was sold at cost. Instructions (a) Prepare a statement of cash flows for 2022 using the indirect method. (See worksheet on next page) (b) Compute free cash flow for 2022.